Coinspeaker
Binance Announces Removal of Four Spot Trading Pairs
World-leading crypto exchange Binance has issued a notice regarding its plans to remove four spot trading pairs from its platform. This removal will affect the ADA/TUSD, AEVO/BNB, AST/BTC, and MANTA/BNB pairs, and will take effect at 03:00 UTC on August 2, 2024.
According to Binance, the decision to delist these pairs is part of its continuous efforts to ensure that it always provides its users with a high-quality trading market while also protecting them the best way it seems fit.
Binance Implements Changes to Improve Market Quality
It might be worth noting that Binance, albeit on a regular basis, reviews its listed pairs to conduct liquidity and trading volume checks. After these checks, the exchange usually delists any pairs that fail to meet its standards so as to maintain its overall market performance.
In an attempt to douse the fears of traders, the platform further explained the implication of the upcoming delisting, particularly for traders. The exchange confirmed that while the specific trading pairs ADA/TUSD, AEVO/BNB, AST/BTC, and MANTA/BNB will no longer be available, the individual tokens within these pairs will still be tradable. The statement reads:
“The delisting of a spot trading pair does not affect the availability of the tokens on Binance Spot.”
This means that users can still find and trade these tokens under alternative pairs available on the Binance platform.
The exchange’s periodic review process ensures that only the most active and liquid trading pairs remain on the platform. By doing this, the platform maintains its integrity while users also get to access what might be the best trading experience in the industry as a whole.
Issues Further Warning for Bot Traders
Binance has also announced that traders using Spot Trading Bots services for the delisted services might need to take immediate action. That is because the bits will be terminated at the same time as the delisting.
Therefore, it might be safe for traders in this category to update or cancel their bots to avoid any potential losses. Necessarily so, given that taking action would mean that they have effectively prevented any unintentional trades or disruptions that might follow the delisting.
Binance has maintained that it remains committed to providing a secure and high-quality trading environment. So, while most users would hate to see the trading pairs delisted, the exchange insists that efforts like this are for the greater good, especially for the users.
Overall, Binance is still keen on supporting the crypto market, and has been empowering new projects in line. Its delisting efforts, however, are only against low liquidity in pairs, which, if left unattended, are known to distort prices.
In July alone, Binance has issued no less than three notices at different times about delisting trading pairs.
