Binance will delist these 9 cryptocurrencies on January 12th
FLOKI, LTC and COTI briefly retreated following the announcement, but their decline could also be due to the broader market correction after the US Securities and Exchange Commission chairman clarified that the agency has not approved the launch of a spot Bitcoin ETF.
Some tokens, such as those included in Binance's upcoming delisting, recovered losses in the following hours after the sector digested the information surrounding the SEC ETF fiasco.
This is not Binance's first change in 2024. A week ago, Monero (XMR), Zcash (ZEC) and eight other cryptocurrencies were added to its monitoring tag list.
Assets in this category are closely monitored by Binance and may be delisted if they do not meet the required criteria such as network stability, trading volume, development activity, level of public communication, and others.
The world’s largest cryptocurrency exchange by trading volume – Binance – announced the delisting of nine spot trading pairs, including LTC/UAH, FLOKI/TUSD, COS/BNB, COTI/BNB, MULTI/BTC, and others.
The company said it conducts periodic reviews and may remove some trading pairs due to multiple factors to protect customers and “maintain a high-quality trading market.”
Terminating services with the affected cryptocurrencies will come into effect on January 12. Delisting from Binance could negatively affect involved assets as it might hamper their liquidity and cause potential reputational damage.
FLOKI, LTC, and COTI briefly headed south after the announcement, but their plunge could have also followed the overall market correction after the Chairman of the US SEC clarified that the agency has not approved the launch of a spot Bitcoin ETF.
Some tokens, such as those included in Binance’s upcoming delisting, recovered the losses in the following hours after the sector digested the information surrounding the SEC-ETF fiasco.
Author: Dimitar Dzhondzhorov
Last Updated Jan 10, 2024 @ 11:14