Warning for Altcoin Investors: Binance to Remove 23 Trading Pairs
Stay informed about which trading pairs will no longer be available starting January 9.
The world’s leading cryptocurrency exchange, Binance, is set to delist a significant number of trading pairs, which will impact many altcoin traders.
The assets affected by this decision are currently experiencing declines, which coincides with a broader market adjustment.
Upcoming Changes
Binance conducts regular assessments of all listed pairs to ensure they meet necessary compliance standards. In their latest review, they have decided to remove 23 trading pairs, including notable ones like 1000SATS/FDUSD, BIO/BNB, and IOTA/ETH. This delisting is due to take effect on January 9, though Binance has assured that these tokens will still be available on their Spot trading platform.
“Users can still trade the spot trading pair’s base and quote assets on other trading pair(s) that are available on Binance,” the statement indicates.
It’s critical to understand that such actions from Binance, being the largest crypto exchange, influence market liquidity and visibility. One particular affected altcoin, Bio Protocol (BIO), has seen its price fall by 10% in a single day.
In light of the recent market trends, Bitcoin (BTC) and various altcoins like Zcash (ZEC) have also reported losses, with BTC dropping below $90,000 recently.
Previous Delistings
Binance has a history of removing trading pairs and occasionally terminating services for specific assets, leading to sharp price declines. Recently, Binance delisted tokens like Flamingo (FLM) and Kadena (KDA), prompting immediate price drops.
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Last month, Binance stated they would also stop supporting StaFi (FIS) and other altcoins, creating volatility as those tokens surged before the announcement but plummeted afterward.
