Leading crypto exchange Binance has announced the delisting of specific spot trading pairs with Bitcoin (BTC) and TrueUSD (TUSD) as base assets.
The decision is part of the platform’s efforts to protect users and “maintain a high quality trading market,” Binance said in a Wednesday announcement. However, the impact of this delisting announcement on the affected cryptocurrencies remains unknown at this point.
Per the announcement, the exchange’s internal reviews have led to the decision to halt trading for three spot trading pairs, including CFX/TUSD, CHESS/BTC, and ORDI/TUSD.
The delisting will take effect on May 17 at 03:00 UTC, and Binance will also terminate spot trading bot services for these pairs at the same time.
Delisting of Trade Pair Does Not Affect Availability
While users will still be able to trade the base assets of these spot trading pairs, Binance clarified that it will no longer support the specific pairs mentioned above.
“The delisting of a spot trading pair does not affect the availability of the tokens on Binance Spot,” the exchange wrote. “Users can still trade the spot trading pair’s base and quote assets on other trading pair(s) that are available on Binance.”
On a positive note, Binance has been actively expanding and refining its crypto offerings for users.
In recent times, the exchange extended support for tokens such as PEPE, WIF, and WLD, solidifying its prominence in the global crypto realm.
The delisting of certain trading pairs comes as the crypto market has been trading sideways as of late.
Bitcoin, the largest cryptocurrency by market cap, traded at $62,119 today, reflecting a 0.46% increase in the past 24 hours.
With 24-hour lows and highs at $61,123.77 and $62,239.31 respectively, Bitcoin is currently in a re-accumulation phase, according to technical analyst Rekt Capital.
“The Post-Halving Bitcoin “Danger Zone” (purple) is officially over,” popular crypto trader Rekt Capital wrote in a recent post on X.
“And Bitcoin is celebrating with a good bounce from the Re-Accumulation Range Low support.”
The Post-Halving Bitcoin "Danger Zone" (purple) is officially over
And Bitcoin is celebrating with a good bounce from the Re-Accumulation Range Low support$BTC #Crypto #Bitcoin https://t.co/3pvWKRAqNd pic.twitter.com/KRD2UNDZiT
— Rekt Capital (@rektcapital) May 13, 2024
Binance to Re-Enter India
Last week, the Financial Intelligence Unit of India (FIU-IND) revealed that Binance has successfully registered with the regulatory body, returning to the country after some regulatory hurdles.
Prior to that, the exchange announced that it had obtained a license from Dubai’s regulator, VARA, enabling the platform to cater to retail clients along with qualified and institutional ones.
According to Bloomberg, the licensing process involved Binance’s founder and former CEO, Changpeng Zhao, relinquishing voting control of the Dubai unit.
EXPLORE: Binance Review and Comparison
Furthermore, earlier this year, Binance unveiled its joint venture crypto exchange Binance Thailand, which comes in collaboration with Gulf Innova, a subsidiary of Gulf Energy Development.
Binance Thailand, abbreviated as Binance TH, provides a platform for digital asset exchange services with Thai baht trading pairs.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
