- The world’s largest crypto exchange, Binance, announced on Friday that it would delist a series of crypto GBP trading pairs on Binance Spot.
- In an official announcement on December 22, the crypto exchange Binance revealed that GBP spot pairs would be delisted, and trading would come to an end.
- While there may be some retracements in the crypto market, the removal of GBP spot pairs is not expected to cause a correction in the crypto market.
Binance, the world’s largest crypto exchange, announced the spot trading pairs it will remove in its latest announcement: Here are all the details!
Binance Announces the Parities It Will Remove in Its Announcement
Binance, in its announcement, disclosed the pairs it would delist. The world’s largest crypto exchange, Binance, announced on Friday that it would delist a series of crypto GBP trading pairs on Binance Spot. Binance is planning to delist several significant spot pairs, including Bitcoin (BTC), Ethereum (ETH), BNB, Solana (SOL), XRP, Cardano (ADA), Chainlink (LINK), Polygon (MATIC), Litecoin (LTC), and Dogecoin (DOGE), by December 29.
In an official announcement on December 22, the crypto exchange Binance revealed that GBP spot pairs would be delisted, and trading would come to an end. This move comes amid increasing challenges such as regulatory burdens, heightened scrutiny, and the loss of banking partners. Binance plans to delist ADA/GBP, BNB/GBP, BTC/GBP, DOGE/GBP, ETH/GBP, GBP/USDT, LINK/GBP, LTC/GBP, MATIC/GBP, SOL/GBP, and XRP/GBP on December 29.
In October, in compliance with new FCA regulations, Binance halted accepting new customers in the United Kingdom under the regulations limiting promotions of overseas digital asset firms in the country. Additionally, GBP users faced issues with withdrawals and deposits after Binance terminated its banking partnership in the UK.
“To protect users and maintain a high-quality trading market, Binance periodically reviews all listed spot trading pairs and may delist specific spot trading pairs based on various factors,” says Binance.
Will It Bring a Correction?
While there may be some retracements in the crypto market, the removal of GBP spot pairs is not expected to cause a correction in the crypto market. Most trading volume comes from stablecoins and USD pairs. In the last 24 hours, the BTC price has been moving horizontally ahead of significant U.S. PCE inflation data.
The price is currently trading below $44,000. Meanwhile, in the last 24 hours, the BTC price has touched a low and high value between $43,387 and $44,367. Altcoins are trading more robustly than Bitcoin, but a Santa Claus rally is expected amid anticipation for the approval of a spot Bitcoin ETF.
