Binance, the largest cryptocurrency exchange by daily trading volume, made a huge delist announcement. Binance has announced that it will terminate transactions for 11 altcoin pairs. Here are the details…
Binance delists 11 altcoin pairs
Binance, the world’s largest cryptocurrency exchange, announced that it will remove 11 trading pairs for 10 cryptocurrencies from its spot trading platform. According to the official announcement on the website, Binance, Arweave (AR), BurgerCities (BURGER), JasmyCoin (JASMY), OMG Network (OMG), Prosper (PROS), Unifi Protocol DAO (UNFI), Viberate (VIB), Vite (VITE) will remove trading pairs for Waves (WAVES) and WazirX (WRX) assets.
The delisting process will take place in two stages. Binance will remove the trading pairs AR/BNB, BURGER/BNB, JASMY/BNB, JASMY/ETH, and OMG/BTC at 06:00 on May 11. Trading pairs for PROS/ETH, UNFI/ETH, VIB/ETH, VITE/BUSD, WAVES/BNB and WRX/BNB will be delisted at 09:00 on the same day.
WRX delists from isolated margin
On the other hand, Binance made the announcement for WazirX (WRX) in a separate announcement on May 9. He announced that WazirX will remove the Bitcoin (BTC) pair from its isolated margin trading platform. Binance will suspend borrowing for the WRX/BTC pair on May 10. Afterwards, all open positions will be closed and users will be refunded directly on May 15 at 09:00. After these delist transactions, Binance will cancel all pending orders.
Other developments in the Binance ecosystem
Meanwhile, Binance’s NFT marketplace made a statement today. The platform said it plans to add support for Ordinals or Bitcoin NFTs later in May, although it hasn’t announced an exact date. Binance NFT, which currently supports NFTs on Ethereum, Polygon, and its native BNB Chain, plans to expand its offerings by allowing investors to purchase Ordinals on the Bitcoin network. Collectors will soon be able to buy and sell NFTs created on the Bitcoin network. Thus, it will be able to expand the reach of the nascent Ordinals ecosystem.
In addition, Binance will simplify the process for users by allowing traders to purchase Bitcoin-based NFTs with their Binance accounts to help users get used to Bitcoin NFTs. Rather than having to set up a taproot compatible Bitcoin wallet to purchase Ordinals, as collectors who want to print TwelveFold Ordinals from NFT giant Yuga Labs must do, Binance aims to make the process simple and secure for new buyers to enter the growing market.
Ordinals reached 3 million members last week, as we reported on Kriptokoin.com. Meanwhile, the demand for marketplaces to adopt Bitcoin NFTs is also growing. In March, NFT marketplace Magic Eden added support for Ordinals. To do this, it has integrated Bitcoin wallets Hiro and Xverse. In April, the marketplace rolled out a creator launchpad to help artists print NFTs before listing them on the secondary market.
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