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Binance Delists BTC, ETH, & BNB Pairs Sparking Price Crash Speculations
In a recent announcement, the leading crypto exchange Binance has announced to remove certain key pairs from its platform. According to the release, the exchange will release four pairs related to BTC, ETH, BNB, and DAI. This move has sparked speculations over the potential reason behind such decision, while also fueling discussions over its impact on the prices.
Binance Delists Key Trading Pairs Sparking Speculations
Binance has recently announced its plans to delist four trading pairs from its platform. The announcement showed that APE/ETH, ATOM/BNB, BAL/BTC, and BNB/DAI, would be removed from the exchange. This announcement by the crypto exchange has sparked speculations.
Meanwhile, the company noted that this move was part of their regular reviews of spot trading pairs, which consider several factors like liquidity, trading volume, and others. Notably, the delisting is scheduled for October 11, 2024, at 3:00 UTC.
The exchange indicated that this action is in line with its effort to maintain a high-quality trading environment for the users. In addition, it also clarified that the delisting of these pairs will not affect the availability of the individual tokens. In other words, the users can continue to trade the base and quote assets through other trading pairs still available on the platform.
Notably, the exchange also advised users of its Spot Trading Bots to cancel or update their bots for these pairs to avoid potential losses once trading ceases.
Will These Delistings Impact BNB And Other Prices?
The news of Binance’s delisting tends to trigger mixed reactions in the market. Typically, such announcements from the top crypto exchanges can impact investor sentiment. For instance, positive developments usually lead to market optimism, while decisions like delisting can fuel uncertainty.
Having said that, traders might interpret this delisting as a sign of reduced interest or declining liquidity in the affected pairs. It could potentially drive down the prices of these tokens in the short term, sparking speculations over a potential price crash.
However, the delisting of spot trading pairs does not necessarily guarantee a price slump. Although chances remain, the investors can sometimes avoid such announcements, as the exchange has still other pairs of these crypto available on its platform.
As of writing, APE price was up about 0.55% and exchanged hands at $0.74, while its trading volume dropped by 5% to $50.44 million. On the other hand, ATOM price was down about 0.5% to $4.35, and its trading volume dipped 30% to $78.81 million.
Simultaneously, BAL price traded near the flatline and traded at $1.94, after touching a 24-hour high of $1.96. Finally, BNB price rose nearly 2% to $582.37, while its trading volume soared nearly 30% to $2.29 billion.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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