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By removing underperforming pairs, Binance can offer its users better trading experience and more reliable markets.
Key Notes
Affected pairs include APE/ETH, ATOM/BNB, BAL/BTC, and BNB/DAI.Users must cancel trading bots tied to these pairs by October 11.Binance’s latest effort at sanitizing and maintaining a high-quality trading environment has been revealed in a recent announcement. According to the world’s leading crypto exchange, it is set to delist four spot trading pairs from its platform.
The delisting will take effect at 03:00 UTC on October 11, 2024, and will affect APE/ETH, ATOM/BNB, BAL/BTC, and BNB/DAI.
Why Binance Is Delisting These Pairs
As relayed by Binance in its official statement, the decision to delist these specific pairs or any other pair at any given time has all to do with its periodic checks. Occasionally, the platform carries out periodic reviews of all listed spot trading pairs to evaluate various factors such as liquidity, trading volume, as well as the overall health of the market for each pair.
Upon checking, should Binance find any trading pair lacking in any of the areas mentioned above, the platform may choose to remove such pairs. This move, according to Binance, does not only help it to protect users but also keeps the integrity of the market at the right standard.
Despite the removals set to take place, Binance is assuring users that the tokens associated with the pairs, such as APE APE $0.74 24h volatility: 0.6% Market cap: $496.35 M Vol. 24h: $91.19 M (ApeCoin), ATOM ATOM $4.34 24h volatility: 0.7% Market cap: $1.69 B Vol. 24h: $115.67 M (Cosmos), BAL BAL $1.94 24h volatility: 0.2% Market cap: $116.52 M Vol. 24h: $5.23 M (Balancer), BNB BNB $583.7 24h volatility: 2.1% Market cap: $85.17 B Vol. 24h: $1.16 B (Binance Coin), ETH ETH $2 428 24h volatility: 0.1% Market cap: $292.39 B Vol. 24h: $13.02 B (Ethereum), BTC BTC $62 062 24h volatility: 0.6% Market cap: $1.23 T Vol. 24h: $26.63 B (Bitcoin), and DAI DAI $1.00 24h volatility: 0.0% Market cap: $5.80 B Vol. 24h: $120.67 M (Dai), will remain available for trading on its platform. However, that will only be in other pair combinations. This means that only the specified pairs mentioned will no longer be available for trading.
Furthermore, Binance noted in the announcement that effective from the moment it removes these pairs from its platform, the Spot Trading Bots services for the same pairs will also cease to exist. So, users who use the bots for automated trading are advised to update or cancel their bots. This is to help them avoid potential losses once the bot services for these pairs are no longer available.
What Traders Should Know
While the delisting may be a cause for concern to certain users, the process is not so big a deal per se. As earlier mentioned, the affected tokens can still be traded in other pairs on Binance’s spot market. For instance, if a user holds ATOM/BNB, they can still trade ATOM against other major pairs like BTC or USDT.
Like every other major exchange with the interest of its users at heart, Binance regularly reviews its offerings. This is to ensure that users have access to liquid and actively traded markets.
By removing underperforming pairs, Binance and others like it can offer its users better trading experience and more reliable markets.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.
