After several exploitations and security breaches in June 2024, today Binance the world’s biggest cryptocurrency announced that they will soon cease and remove major spot trading pairs from the exchanges. However, those spot trading pairs are BLUR/FDUSD, LINK/TUSD, MEME/ETH, METIS/FDUSD, NFP/BNB, OSMO/BTC, SHIB/TUSD.
This is why Binance ceased these trading pairs
Binance in his report clearly mentioned that, to protect users and maintain trading they conduct a periodic review of all listed spot trading pairs based on multiple factors including poor liquidity and trading volume. Following this review, Binance has now decided to delist above mentioned spot trading pairs.
However, the exchange in his report also confirmed that the delisting of a spot trading pair does not affect the availability of the tokens on Binance spot. Additionally, the report stated that “Users can still trade the spot trading pair’s base and quote assets on other trading pair(s) that are available on Binance.
Moreover, this mentioned trading pair will be delisted on June 28, 2024, at 3 P.M. Binance urges users to update or cancel their spot trading pairs before the exchange ceases its service to avoid any potential losses. This is not the first time Binance has ceased trading services of any spot trading pairs, but this time Binance is going to cease major spot trading pairs.
Cease tokens performance
After the announcement from Binance, the tokens didn’t see any impact on their prices. Following the announcement, LINK experienced a 0.5% positive momentum, METIS had a 0.8% negative momentum, OSMO saw a 1.4% price drop, and SHIB experienced a 1% price drop in the last 24 hours.
Despite these developments, the overall cryptocurrency market is currently up by 0.5%. Top assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) experienced decent price surges of 0.5%, 0.3%, and 0.55% respectively in the last 24 hours. Additionally, in the same period, 31,830 traders were liquidated, and the total liquidations amounted to $80.15 million.
Meanwhile, Notcoin (NOT), Ethereum Name Service (ENS), Pepe (PEPE), and dogwifhat (WIF) are the top gainers among the top cryptocurrencies. In the last 24 hours, NOT, ENS, PEPE, and WIF experienced price surges of 10%, 6%, 5%, and 4% respectively.