Binance, one of the world’s largest cryptocurrency exchanges, announced that it has made a new decision regarding 3 cryptocurrencies. In the statements made on the subject; It was stated that the cryptocurrencies Bonfida (FIDA), Firo (FIRO) and Quantstamp (QSP) cannot be used in some forms of conversion as of February 17. This is important for investors who trade with these cryptocurrencies. The platform has announced that it has taken similar decisions in the past weeks.
According to Binance’s statement, FIDA and Binance Coin (BNB), FIRO and QSP will no longer be able to make Ethereum transactions. Investors will have to either complete their trades in these pairs before February 17th or cancel these trades. So why does Binance do such things from time to time?
Although nothing clear has been said, low volume can cause such decisions
Stopping some transactions in cryptocurrencies is not a stranger to investors. Although Binance has not said anything clear about this, we can say that the biggest reason for such decisions is low volume. When there are not many transactions and orders are piling up, Binance can make such decisions so that transactions can be completed more quickly.
A very important note to readers:
There is something you need to pay attention to here. Binance’s decision to stop trading does not mean that the stock exchange listing of the aforementioned FIDA, FIRO and QSP has been stopped. It will not be possible to trade only between certain pairs. This is not a situation that affects prices or worries investors. For example, as of February 17, FIDA will not be able to be traded with BNB. However, you will still be able to sell this cryptocurrency as BTC, USDT and BUSD. Binance’s decision is just that…
This content cannot be considered as investment advice.
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