Binance, a global cryptocurrency exchange, has announced a series of strategic measures designed to improve the quality and security of its trading market. Binance, which regularly reviews the listed spot trading pairs, has decided to take action to protect the interests of its users. The decision to delist specific trading pairs is made after careful consideration of factors such as liquidity and trading volume. In a move aimed at balancing adaptability with security, the exchange is preparing to remove several trading pairs to ensure that the evolving landscape of the cryptocurrency market continues to be met with a high level of service and support. Here are the details…
Binance shared delist announcement
Sharing many announcements today, Binance announced its decision to delist 24 altcoin pairs from the spot market with a new announcement. Binance, one of the world’s leading cryptocurrency exchanges, claimed that it acted in a proactive effort to ensure the security and quality of the trading market. This strategic move is based on routine reviews and careful consideration of numerous factors, with a particular focus on liquidity and trading volume. The delisting process is planned to begin at 09:00 UTC on October 13, 2023 and will affect the following trading pairs:
BEL/BUSD, C98/BUSD, CTXC/BUSD, DAR/BUSD, DOT/GBP, ENS/BUSD, FIS/BUSD, FLUX/BUSD, ICX/BUSD, KDA/BUSD, LAZIO/BUSD and NEO/BUSD.
Following this, OCEAN/BUSD, ONT/BUSD, PERP/BUSD, RSR/BNB, SFP/BUSD, STG/BUSD, SUPER/BUSD, TLM/BUSD, VIB/BUSD, WAVES/EUR, YFI/EUR and ZIL/BUSD A second set of trading pairs will be removed from the platform as of 10:00 CEST on the same day. It is important to clarify that the removal of these spot trading pairs from the platform will not have any impact on the availability of tokens on Binance Spot. Users will still be able to buy and sell the underlying assets of these trading pairs through other available trading pairs on the platform.
The activities of spot trading bots will also stop
In addition to the delisting, Binance is taking measures to discontinue Spot Trading Bots services for the above-mentioned trading pairs at 09:00 and 10:00 UTC on October 13, 2023, respectively. This decision is a reminder to users using Spot Trading Bots to update or cancel their bots well before the service is discontinued to minimize possible losses. Additionally, Binance encourages its users to consider converting their BUSD holdings into other existing assets on the platform before the February 2024 deadline.
This switch allows users to switch their BUSD balance to FDUSD with zero trading fees. As another option, users can use the special conversion portal. Thus, it can convert BUSD balances to FDUSD at a 1:1 ratio. It is very important to be agile and sensitive to changing dynamics in the rapidly developing cryptocurrency market.
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