binance Will Delist These 9 Cryptocurrencies on January 12
TL;DR
- Binance, a major cryptocurrency exchange, announced the removal of nine spot trading pairs from its platform, citing routine reviews and the need to ensure a quality trading market.
- Following the delisting announcement, some of the affected cryptocurrencies experienced a temporary decline in value, potentially affected by broader market trends and regulatory news.
- The exchange recently updated its cryptocurrency watchlists, adding some assets for closer scrutiny and removing others from its list focused on early-stage cryptocurrencies.
The world’s largest cryptocurrency exchange by trading volume – Binance – announced Delisting of nine spot trading pairs, including LTC/UAH, FLOKI/TUSD, COS/BNB, coti/BNB, MULTI/BTC and others.
The company said it conducts periodic reviews and may remove some trading pairs due to multiple factors to protect customers and “maintain a high-quality trading market.”
The termination of services for affected cryptocurrencies will take effect on January 12. Binance’s delisting could negatively impact the relevant assets as it could hamper their liquidity and lead to potential reputational damage.
FLOKI, LTC and COTI briefly headed south following the announcement, but according to the US SEC Chairman, these declines may also have followed the overall market correction. clarified He said the agency did not approve the launch of a spot Bitcoin ETF.
Some tokens, such as those involved in Binance’s upcoming delisting, recouped losses in the hours after the industry digested information surrounding the SEC-ETF fiasco.
This isn’t Binance’s first change in 2024. A week ago, Additional monero (XMR), zcash (ZEC) and eight more cryptocurrencies have been added to the Watch Tag list.
Assets in this category are closely monitored by Binance and may be delisted if they do not meet required criteria such as network stability, trading volume, development activity, level of public communication, and others.
Additionally, the exchange removed gmx (GMX) and SushiSwap (sushi) from the Seed Tag listing. This section replaced the Binance Innovation Zone, which focused on coins in the early stages of their development.
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