Crypto Exchange Binance Delists 3 Spot Trading Pairs—What Investors Need to Know
In the fast-moving world of cryptocurrency, new updates and changes keep coming every day. This time the biggest news has come from the world’s most popular crypto exchange, Binance, where the company has delisted 3 spot trading pairs from its trading platform. This update is important for all investors who actively trade on Binance. This decision of Binance is part of their regular market review, where they decide the future of assets by keeping in mind liquidity and trading volume.
Crypto Exchange Binance Removes ANIME, HYPER, and STO Pairs
Binance confirmed in its official statement that the ANIME/FDUSD, HYPER/FDUSD, and STO/BNB spot trading pairs are being removed from the platform. This delisting will be effective from 3:00 am UTC timing on 15 August. Meaning, after this time users will not be able to transact through these trading pairs.
Investors have been advised to immediately update or cancel their Spot Trading Bots so that they do not have to face any potential loss. Binance also clarified that delisting does not mean that the tokens are being completely removed from Binance. Users will still be able to trade their base and quote assets through other trading pairs on the platform.
Why Did Crypto Exchange Binance Take This Step?
This question comes to the mind of every crypto trader: why did Binance take this decision? Actually, crypto exchange Binance conducts a periodic review of every listed pair. If the liquidity and trading volume of a pair is weak, then it becomes necessary for the company to delist it. This is done in a way to protect the investors so that the market ecosystem remains healthy.
Interestingly, despite the delisting, the price of the ANIME token jumped by 16%. A slight growth was also seen in HYPER and STO. The main reason for this rally is the overall market recovery of altcoins. Ethereum showed a growth of 8% within 24 hours and traded above $4,700, while Solana also surged 15% to cross $200.
Crypto Exchange Binance Brings New Trading Opportunities
When delisting happened on one side, Binance also introduced new trading options. The exchange has launched AIO/USDT and XNY/USDT perpetual contracts offering up to 50x leverage. These contracts are becoming quite popular because through them users can bet on the price without holding the asset.
This move by Binance increases the liquidity and exposure of the new tokens. OlaXBT (AIO) showed a major uptick of 50% immediately after Binance’s support. Codatta (XNY) saw a drop in price to $0.015, a 20% decline on the daily scale.
Other Key Announcements by Crypto Exchange Binance
Apart from delisting and new perpetual contracts, Binance has made another big update. The company has announced a zero-fee trading promotion that will run from 12 August to 11 October. This offer is specially for VIP 2-9 users and spot liquidity providers. Under this campaign, zero trading fees have been kept on BNB/USDC, ADA/USDC, TRX/USDC, and XRP/USD trading pairs.
This promotion is a golden opportunity for Binance users to make their trading experience even more cost-effective. Such offers clearly show that crypto exchange Binance wants to provide maximum flexibility and benefits to its traders.
Final Thoughts on Crypto Exchange Binance’s Decision
This move by Binance is a reminder that the crypto market is never static. If an asset is delisted today, a new pair is launched tomorrow. These changes are a valuable lesson for long-term investors that it is important to always stay updated. On big platforms like Binance, the impact of delisting affects different assets in different ways. While ANIME showed a rally, tokens like XNY saw a decline.
Amidst the volatility and uncertainty of the crypto market, Binance’s periodic review process is a strong signal that the platform places top priority on the interests and liquidity of its users. Every trader should keep an eye on Binance’s official announcements and adjust their trading strategies in a timely manner.
Disclaimer:
This article is for informational purposes only. The details contained in it are not financial or investment advice. The cryptocurrency market is highly volatile, so be sure to seek the advice of your financial advisor before making any trading or investment decisions.
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