- Binance, the world’s largest cryptocurrency exchange, has announced the delisting of six altcoin trading pairs.
- This decision is part of Binance’s regular review process aimed at protecting users and maintaining high market quality for listed spot trading pairs.
- “Binance conducts periodic reviews of all listed spot trading pairs to ensure the protection of our users and the quality of our trading markets,” the announcement stated.
Binance to Delist Six Altcoin Trading Pairs This Week
Details on the Upcoming Delisting
As part of its ongoing efforts to safeguard user interests and ensure liquidity in the trading market, Binance will delist the following trading pairs: ACE/BNB, DOT/TUSD, MAGIC/FDUSD, MEME/BNB, SAND/BNB, and XAI/TUSD. Trading for these pairs will cease on June 7 at 06:00 UTC.
Reasoning Behind the Delisting
The delisting decision comes based on various factors, such as low liquidity and insufficient trading volume. Binance regularly reviews trading pairs, taking into account the development team’s dedication, the trading volume and liquidity, the quality of ongoing project development, and the stability of the network.
Binance to Remove Four Altcoins Entirely
In addition to the delisting of specific trading pairs, Binance announced earlier this week that four other altcoins – OmiseGO (OMG), Waves (WAVES), Wrapped NXM (WNXM), and NEM (XEM) – will be completely removed from the exchange. Trading for these altcoins will end on June 17.
User Actions and Deadlines
Users holding any of the aforementioned altcoins have until September 17, 2024, to withdraw their funds. Binance emphasizes the importance of users migrating their assets from their exchange wallets to ensure the protection of their investments.
Conclusion
The recent announcements regarding the delisting of specific trading pairs and the complete removal of certain altcoins underscore Binance’s commitment to maintaining a secure and high-quality trading environment. It is crucial for users to remain informed and take the necessary steps to safeguard their assets following such updates.
