As a seasoned researcher with years of experience tracking the ever-evolving crypto market, I find myself intrigued by Binance‘s latest move to delist several trading pairs. Having witnessed the rise and fall of numerous tokens, I can say that Binance’s periodic reviews are not mere formalities but crucial for maintaining a healthy and vibrant trading ecosystem.
Binance announced that it intends to remove three exchange trading pairs from its platform, as part of their commitment to maintaining a top-tier trading environment.
As per an announcement made on December 12, the exchange has declared that it will discontinue spot trading for DCR/BTC, PEPE/TUSD, and ZEN/ETH pairs starting from December 13 at 03:00 UTC. Trading activity on these pairs will be halted by this date and time.
The action is carried out during the regular evaluation process by the exchange, which examines trading pairs based on aspects like liquidity, trading activity, and overall market quality. Pairs not adhering to their standards are eliminated from the platform.
The message advises users to either upgrade or terminate their Spot Trading Bots before the discontinuation of these services, to prevent any unwanted financial losses that might occur.
Currently, the PEPE/TUSD exchange saw a 24-hour trading volume of approximately 120,279 TUSD, whereas the ZEN/ETH trading pair had a much lower volume of 16.81 Ether (ETH), and the DCR/BTC pair recorded a 24-hour trade volume of around 1.41 Bitcoins (BTC).
Binance made it clearer that taking down certain trading pairs doesn’t mean the associated tokens are getting de-listed. Instead, users can continue trading these assets using alternative available trading pairs on the platform.
The recent cleaning up is a continuation after the removal of multiple trading pairs such as GFT/USDT, IRIS/USDT, KEY/USDT, OAX/BTC, OAX/USDT, REN/BTC, and REN/USDT from the platform on December 10th.
Simultaneously, Binance has broadened its services by adding new listings. Lately, they introduced Perpetual trading for the well-known SPX6900 meme token.
From my experience as a crypto investor, I’ve noticed that getting listed on Binance, a top-tier exchange, tends to significantly boost the prices of the related tokens. Recently, it seems that meme coins are reaping the most benefits from this trend.
Recently, the meme tokens ACT and PNUT, built on the Solana platform, experienced significant expansion after being listed on Binance. This growth was remarkable, leading to a staggering increase of 1,199% in their market cap for ACT, while PNUT saw an impressive surge of approximately 208%.
On certain occasions, even the news that a Binance listing is forthcoming can trigger significant increases in tokens’ value, as demonstrated by ACX, the native token of Across Protocol, on December 6. After the announcement of its upcoming listing, the token soared approximately 150%.
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2024-12-11 12:22