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Steve Muchoki
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Key Notes
- Binance announced the delisting of several spot trading pairs will not affect their spot trading availability with other pairs.
- The growth of the altcoin industry will likely become selective in the coming months as more investors opt for highly liquid and interesting tokens.
Binance, the leading cryptocurrency exchange by globally registered users and daily average traded volume, has announced a strategic move to protect its customers. In a notice dated January 15, Binance informed its users that 12 spot trading pairs would be removed and trading ceased immediately to ensure a high-quality trading market.
The affected spot trading pairs on the Binance crypto exchange include BNX/BTC, CATI/BNB, CATI/BRL, CHZ/FDUSD, DOGS/BNB, GTC/BTC, HIGH/BTC, LISTA/BTC, NOT/BRL, PIXEL/BTC, TKO/BTC, and TWT/BTC.
The cryptocurrency exchange announced that the affected spot trading pairs will be removed by January 17, 3:00 UTC.
“Binance conducts periodic reviews of all listed spot trading pairs, and may delist selected spot trading pairs due to multiple factors, such as poor liquidity and trading volume,” the crypto exchange announced.
However, Binance announced that the delisting of the spot trading pairs does not impact their remaining spot trading fairs. As a result, Binance users can still trade the spot trading pairs on other pairs, thus users are urged to cancel their trades to avoid any potential loss.
Market Impact of the Binance Delisting of 12 Spot Trading Pairs
The delisting of 12 spot trading pairs on the Binance exchange will have a significant impact on the respective tokens amid the highly anticipated altseason. Furthermore, the delisting of crypto tokens from Binance is a potential indication that the demand for specific projects is gradually waning.
The existence of thousands of crypto projects has significantly diluted the cryptocurrency industry, thus potentially delaying the highly anticipated altseason. However, it is prudent to consider that the demand for the listed crypto coins could be high through on-chain purchases.
For instance, Toncoin (TON)-based memecoins Notcoin (NOT), and Dogs (DOGS) have more than 7 million on-chain holders combined. As a highly volatile sector, more investors have been opting to buy and hold digital assets instead of active trading.
Moreover, active trading increases the risks of forced liquidations amid the heightened adoption of digital assets by institutional investors.
Bigger Picture
Amid the ongoing global crypto regulatory shift, more cryptocurrency exchanges have been listing and delisting different digital assets to ensure compliance. For instance, the ongoing implementation of MiCA rules has forced different cryptocurrency exchanges to delist unauthorized stablecoins in the vast European market.
Nonetheless, the upcoming shift in political control in the United States to a pro-crypto President will attract more global users in the long haul. Furthermore, digital assets have been identified as a better hedge against inflation compared to traditional equities and the gold market.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Julia Sakovich
