Why Binance Is Removing These Popular Altcoin Pairs Next Week
Check out which margin trading pairs will be removed from Binance's platform on January 6. The world’s biggest crypto exchange will delist certain pairs that will affect...
Check out which margin trading pairs will be removed from Binance's platform on January 6.
The world’s biggest crypto exchange will delist certain pairs that will affect numerous altcoin traders.
One of the cryptocurrencies involved in the process is Cardano (ADA), whose price has plunged by 3.5% on December 30.
Bye-Bye to These Pairs
Binance revealed that it will delist the following cross-margin pairs: BCH/FDUSD, TAO/FDUSD, AVAX/FDUSD, LTC/FDUSD, SUI/FDUSD, ADA/FDUSD, and LINK/FDUSD on January 6. It will also remove the isolated margin pairs involving the same cryptocurrencies on that date.
“Effective immediately, users will no longer be able to transfer any amount of assets of the aforementioned pair(s) via manual transfers and Auto-Transfer Mode into their Isolated Margin accounts. If users hold outstanding liabilities of said tokens, these users may only manually transfer up to the amount of liabilities of that token into their Isolated Margin accounts, less any collateral already available,” the announcement reads.
The common denominator across all trading pairs that are about to be removed is the stablecoin First Digital USD (FDUSD), with Binance failing to provide a reason for its decision.
The non-stablecoin cryptocurrencies experienced little to no volatility following the news. Usually, more substantial moves are observed when a coin is initially listed or when all services involving a certain token are terminated.
The Previous Updates
Approximately a week ago, the exchange released another update affecting Cardano traders. This time, it opened trading for ADA/USD1 as well as the pairs ASTER/USD1, LUNA/USDC, LUNC/USDC, and ZEC/USD1 on Binance Spot.
The new service is not available to all clients, as those residing in the United States, Canada, Cuba, Iran, the Netherlands, and other countries are excluded. Following the announcement, ADA’s price rose by 4%, while ASTER pumped by 3.5%. For its part, LUNA experienced a double-digit increase.
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At the start of December, Binance announced the removal of StaFi (FIS), REI Network (REI), and Voxies (VOXEL). The prices of the affected assets headed south after the news.
The same thing happened in October when the company terminated all services with Flamingo (FLM), Kadena (KDA), and Perpetual Protocol (PERP). KDA took a major blow with its valuation crashing by around 30% following the statement.
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