- Binance, the world’s leading cryptocurrency exchange by trading volume, has announced the delisting of several spot and margin trading pairs effective later this month.
- This move is part of Binance’s regular review process aimed at providing a “high-quality trading market” for its users.
- “The reason for the delisting is ‘low liquidity and trading volume,’ which means these assets are not actively traded on the platform, potentially causing difficulties for users trying to buy or sell them,” Binance explained.
This article explores Binance’s recent decision to delist certain trading pairs, examining the implications for traders and the broader cryptocurrency market.
Binance Phases Out Select Spot Trading Pairs
Four spot trading pairs will be removed from Binance on May 24, 2024, at 06:00 AM UTC. These pairs include INJ/TUSD, MEME/TUSD, SNX/ETH, and SYN/BTC. While users can continue to hold the base tokens (INJ, MEME, SNX, and SYN) on Binance and trade them using other available pairs, the delisting affects only the specific combinations of these tokens.
Additional Delistings in Margin Trading
Alongside the spot trading pairs, Binance Margin will also delist nine margin trading pairs on May 31, 2024, at 09:00 AM UTC. The affected pairs include Cross Margin: MDX/BTC, SEI/TUSD, SUI/TUSD; and Isolated Margin: ALPACA/BTC, ARKM/TUSD, CHESS/BTC, MDX/BTC, SEI/TUSD, SUI/TUSD. For these pairs, isolated margin borrowing will be suspended starting May 24, 2024, at 06:00 UTC, preventing users from leveraging positions in these pairs.
What Should Users Do?
Similar to the spot trading pairs, users can trade the individual assets of the delisted margin pairs through other available margin trading pairs. Binance emphasizes that users will not be able to change their positions during the delisting process and strongly advises them to close their positions in the delisted margin trading pairs before May 31 and transfer their assets from Margin Wallets to Spot Wallets before the deadline.
Conclusion
The delisting of these trading pairs is likely to have a limited impact on the broader cryptocurrency market. However, users holding these specific assets or using the delisted margin pairs may face challenges. They will need to adjust their trading strategies and potentially find alternative ways to trade or leverage these assets. For the latest developments, follow us on social media and join our Telegram and YouTube channels.
