Binance Announces Updates on 14 Altcoins: Delisting Included, Impact on Crypto Market

  • Binance, the world’s leading cryptocurrency exchange, announced several changes on its platform today, including the delisting of selected trading pairs, additions to loan offerings, and support for Lisk contract swap.
  • The exchange will delist three spot trading pairs: CFX/TUSD, CHESS/BTC, and ORDI/TUSD, to maintain a high-quality trading environment.
  • Users can continue to hold and trade CFX, CHESS, ORDI, TUSD, and BTC in other available pairs on Binance Spot.

Binance announces changes on its platform, including delisting of selected trading pairs, additions to loan offerings, and support for Lisk contract swap, providing users with more opportunities to leverage their crypto assets.

Binance Delists Some Trading Pairs

To maintain a high-quality trading environment, the exchange will delist three spot trading pairs: CFX/TUSD, CHESS/BTC, and ORDI/TUSD. This decision, based on factors such as low liquidity and trading volume, allows users to access more actively traded pairs. It’s important to remember that the delisting process affects only the specific trading pair, not the base tokens. Users can continue to hold and trade CFX, CHESS, ORDI, TUSD, and BTC in other available pairs on Binance Spot. Binance will also discontinue Spot Trading Bots services for these delisted pairs and encourage users to update or cancel their bots before the deadline to prevent potential losses.

Loan Options Expand

The exchange is offering users more opportunities to leverage their crypto assets through loan products. Binance Loans (Flexible Rate) and VIP Loan saw an increase in the number of lendable assets. Users with Flexible Rate loans can now borrow Adventure Gold (AGLD), Highstreet (HIGH), ssv.network (SSV), and Theta Network (THETA) loans. VIP Loan users can access dogwifhat (WIF), ether.fi (ETHFI), Pepe (PEPE), and Renzo (REZ) as additional collateral options. For the latest interest rates and full list of lendable assets, users can refer to the Loan Data and VIP Loan sections on Binance.

Binance to Facilitate Lisk Contract Swap

Binance will facilitate a contract swap for Lisk (LSK) tokens. This means all deposit and withdrawal transactions for the old LSK tokens will be suspended from May 21, 2024, 05:00 AM UTC. Users are advised to complete any necessary LSK deposit or withdrawal transactions before the deadline to avoid any inconvenience. The good news is that spot trading, margin trading, futures trading, and Binance Earn services will not be affected during the contract swap. The exchange will handle all technical matters for users holding LSK tokens. The swap rate is 1 old LSK for 1 new LSK. After the swap is completed, depositing and withdrawing old LSK tokens will no longer be supported. Binance will announce when deposit and withdrawal transactions for the new LSK tokens will resume.

Conclusion

These changes on Binance’s platform aim to provide users with more opportunities to leverage their crypto assets and maintain a high-quality trading environment. Users are advised to stay updated with the latest developments and make necessary adjustments to their trading strategies.

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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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