Binance Axes 3 Trading Pairs – Here’s What Got the Boot
Binance just pulled the plug on three trading pairs—no warnings, no apologies. The exchange’s latest purge targets low-liquidity assets, trimming the fat to keep its engine humming.
Which pairs got the chop? The usual suspects: underperformers that couldn’t keep up with Binance’s ruthless efficiency standards. Another day, another delisting—because in crypto, even the ‘free market’ needs a janitor.
Funny how exchanges preach decentralization while playing god with trading pairs. Maybe next they’ll ‘optimize’ their fee structure… just kidding. (Unless?)
The Latest Amendment
Binance conducts periodic reviews of all listed spot trading pairs and sometimes delists some due to factors like poor liquidity and volume.
Most recently, it announced the removal of ANIME/FDUSD, HYPER/FDUSD, and STO/BNB. The pairs will be effectively scrapped from the platform on August 15.
“Users are strongly advised to update and/or cancel their Spot Trading Bots prior to the cessation of Spot Trading Bots services to avoid any potential losses,” Binance recommended.
The exchange revealed that the delisting does not affect the availability of the tokens on Binance Spot. It said clients “can still trade the spot trading pairs’ base and quote assets on other trading pair(s)” that are available on the platform.
Typically, the withdrawal of support from a crypto behemoth like Binance has a negative impact on the prices of the affected cryptocurrencies. This wasn’t the case here with ANIME jumping by 16% daily, while HYPER and STO posted more modest gains.
Their rallies coincide with the broader resurgence of many of the well-known altcoins. ethereum (ETH) is up 8% on a 24-hour scale and currently trades above $4,700, while Solana (SOL) soared by 15% to surpass $200.
Other Updates
Earlier this month, Binance announced a zero-fee trading promotion for VIP 2-9 users and spot liquidity providers. The campaign will cover the BNB/USDC, ADA/USDC, TRX/USDC, and XRP/USD trading pairs and will run from August 12 until October 11.
Just a few hours ago, the company launched AIO/USDT and XNY/USDT perpetual contracts with up to 50x leverage. These products allow users to bet on the price of the aforementioned cryptocurrencies without owning them, and have no expiration date.
OlaXBT (AIO) experienced a major uptick of almost 50% shortly after the disclosure. After all, the support from Binance increases the asset’s liquidity and visibility, providing it with a solid reputational boost.
However, Codatta (XNY) headed in the opposite direction. It currently trades at approximately $0.015, representing a 20% decline on a daily scale.
