Recently, critical altcoin announcements came from Binance and Coinbase. The announcements included items such as delist, listing and network update support. Here are the details…
Coinbase is delisting an altcoin project
Coinbase, the largest cryptocurrency exchange in the United States, announced its decision to delist the altcoin Polymath (POLY) in a recent announcement. The stock exchange announced this decision in an official letter published on social media on Tuesday, November 21. According to Coinbase, this move is a result of regular reviews to ensure listed assets comply with the platform’s listing standards. In its statement, Coinbase announced that Polymath (POLY) trading will be suspended on December 5, 2023. The altcoin will then be officially delisted on the same day.
Investors holding POLY on Coinbase are being asked to withdraw their holdings before the delisting takes effect. The exchange emphasized that users have the flexibility to withdraw these cryptocurrencies whenever they want. The delisting announcement had an immediate impact on Polymath’s value. CoinGecko data shows that there has been a significant decline in POLY’s price, dropping over 20% from $0.208 to $0.167 at the time of the news. Currently, POLY is trading at $0.17, down 10%.
Binance continues to delist BUSD pairs
On the other hand, Binance, the world’s largest cryptocurrency exchange, announced that it removed 10 trading pairs from spot trading on Wednesday, November 22. Affected trading pairs include Aptos (APT), Axie Infinity (AXS), BakerySwap (BAKE), Conflux (CFX), Chiliz (CHZ), Ethereum Classic (ETC), Filecoin (FIL), Polkadot (DOT), Gas (GAS) , Tellor Tributes (TRB) and TerraUSD Classic (USTC).
Binance will remove these trading pairs from spot trading and cease trading activities as of 06:00 on November 24. Binance assured users that they can trade these assets on other available trading pairs on the platform. In addition, the exchange recommended that users, especially those using trading bots, cancel all trades involving these pairs to reduce their possible losses. In a broader context, Binance is encouraging users to convert their BUSD holdings to other cryptocurrencies before February 2024.
Announcement for new altcoin pairs has arrived
Additionally, Binance is preparing to open trading for several new spot trading pairs on November 23, 2023 at 11:00 UTC. Newly introduced trading pairs include DOT/TUSD, GALA/FDUSD, GAS/TRY, NTRN/TRY and WLD/FDUSD. Additionally, starting from the same date and time, Binance will enable Trading Bot services for Spot Grid, Spot DCA and Rebalancing Bot for the BEAMX/USDT trading pair.
Network upgrade support for QTUM has arrived
Finally, Binance announced support for the Qtum (QTUM) network upgrade and hard fork, which is scheduled to occur at approximately 03:24 on November 27, 2023, at a block height of 3,385,122. As a result, deposits and withdrawals of token(s) on the Qtum network will be temporarily suspended starting at 02:30 on November 27, 2023.
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