According to Binance, the key factors behind its delisting decision are its commitment to risk reduction and market stability.
Binance, the world’s leading crypto exchange in terms of trading volume, is making some changes on its platform. This follows after it recently announced a decision to delist several trading pairs from the same platform. Per the announcement, the move will affect popular tokens such as ALPACA and QUICK, sparking concerns among investors about potential price drops and overall market sentiment.
Binance Says Its Delisting Strategy Is About Safety, Warns Users About Potential Losses
According to Binance, the key factors behind its delisting decision are its commitment to risk reduction and market stability. By carefully managing tradable assets, the exchange aims to bolster platform security and integrity, which in turn, is expected to create a safe space for users.
The specific trading pairs that are headed for exit are ALPACA/BTC, MDX/BTC, NFP/TUSD, QUICK/BTC, and XAI/BNB. In the official announcement, Binance claims that the delisting will take place on June 14th at 3:00 UTC. As expected, this news is likely to push users to adjust their portfolios before the deadline.
To prevent potential losses, Binance has also asked users to update and cancel any Spot Trading Bots using any of the soon-to-be-delisted pairs. It assures that taking these actions will help users keep their assets safe, and more importantly, keep trading activities flowing.
Price Swings for Delisted Tokens
It is worth noting that the affected cryptocurrencies have immediately reacted to Binance’s announcement by seeing significant price drops.
Alpaca Finance (ALPACA), for instance, is down 1.04% in 24 hours and 12.31% in the past week. Mdex (HECO) (MDX) on the other hand is down 2.71% in 24 hours and 1.40% in the past week.
NFPrompt (NFP) has lost 3.86% in tje past 24 hours and a substantial 29.57% in the past week. Whereas, Quickswap (QUICK) shows a decline of 2.45% in 24 hours and 9.44% in seven days. Lastly, Xai (XAI) has lost 2.87% of its value in 24 hours and a concerning 24.61% in the past week.
Without a doubt, the delisting of these trading pairs could bring an air of uncertainty into the market. That is as investors begin to reassess their crypto holdings and trading strategies.
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