Binance Announces Delisting and New Listings: Impact on SAND, DOT, and 60 Other Altcoins

  • Binance greets the day with several announcements. The world’s largest cryptocurrency exchange by daily trading volume has released updates regarding listing and delisting for various trading pairs.
  • Delisting and listing updates are crucial to ensuring a high-quality trading environment by maintaining liquidity and active trading volumes.
  • Binance’s recent announcements encompass delisting five trading pairs, adding new pairs to Spot Copy Trading, and introducing new loan assets and staking opportunities.

Discover the latest updates from Binance, encompassing delisting of trading pairs, new additions to Spot Copy Trading, and exciting loan and staking opportunities.

Binance to Delist Five Trading Pairs

In an ongoing effort to protect its users and maintain a high-quality trading environment, Binance periodically reviews all spot trading pairs and may delist pairs based on low trading volumes and liquidity. Following recent evaluations, Binance announced that it will be removing the following spot trading pairs on June 7, 2024, at 06:00 UTC: ACE/BNB, DOT/TUSD, MAGIC/FDUSD, MEME/BNB, and SAND/BNB.

Impact on Trading and User Guidance

The delisting of these trading pairs will not affect the ability to trade the underlying cryptocurrencies on Binance. Users will still be able to trade these assets against other available pairs on the platform. Additionally, Spot Trading Bots associated with these pairs will also be discontinued at the same time. Binance strongly recommends users to update or cancel their trading bots to prevent potential losses.

New Additions to Spot Copy Trading

In a bid to enhance user experience, Binance plans to add 50 new trading pairs to its Spot Copy Trading feature on June 7, 2024, at 11:00 UTC. This feature allows users to mirror the trades of experienced traders, and the new pairs include (but are not limited to): 1INCH/USDT, BEAMX/USDT, and IMX/USDT. Users with active Spot Copy Trading portfolios can enable these pairs through the [Personal Pair Preference] settings.

Expanding Trading Opportunities

This expansion is set to provide more diversity and opportunities for copy traders. By incorporating a wide array of trading pairs, Binance aims to offer greater flexibility and scalability for users looking to leverage the expertise of seasoned traders within the Spot Copy Trading environment.

New Loan Assets on Binance Loans

Binance has expanded its lending services on Binance Loans by introducing three new tokens: Auction (AUCTION), GMX (GMX), and Liquity (LQTY). These tokens are now available as loanable assets under the flexible rate option. Users can check the latest interest rates and the complete list of loanable and collateral assets on the Loan Data page.

Diversifying Borrowing Options

By offering a broader selection of loanable assets, Binance continues to enhance its financial services, providing users with more options to meet their borrowing needs. The platform ensures competitive rates and a seamless borrowing experience, catering to diverse investment strategies and liquidity requirements.

New Altcoins Added to Locked Products

Binance Earn has also introduced new altcoin opportunities within its locked products. Every Wednesday, new offers will be released, allowing users to earn rewards through Simple Earn, ETH Staking, Dual Investment, and more. Currently, flexible products feature USDC, USDT, AXS, BLUR, and SXP, while locked products include staking options for BNB, SOL, and ETH.

Lucrative Staking Promotions

As part of the Binance World Championship celebrations, two special promotions have been launched for Simple Earn Flexible Products and Locked Products. From June 5 to June 25, 2024, new users who subscribe to at least 50 USDC in net eligible amounts will be eligible for a reward of 20 FDUSD tokens, available to the first 200 participants. Additionally, participants can earn up to 1,000 SUI in rewards, complementing the standard interest yields.

Conclusion

Binance’s latest announcements reflect its ongoing commitment to enhancing user experience and maintaining a robust trading environment. By delisting low-liquidity pairs, adding diverse trading options, and expanding loan and staking opportunities, Binance continues to cater to the evolving needs of its global user base. These initiatives promise to provide additional value and strategic benefits to traders and investors alike.

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Crypto Vira
Crypto Virahttps://coinotag.com/
Alican is a young and dynamic individual at the age of 23, with a deep interest in space exploration, Elon Musk, and following in the footsteps of Atatürk. Alican is an expert in cryptocurrency, price action, and technical analysis. He has a passion for sharing his knowledge and experience through writing and aims to make a positive impact in the world of finance.
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