Popular global trading exchange – Binance announced the delisting 30 cryptocurrrency trading pairs from their platform.
According to the announcement, the exchange says the delisting aims “to improve liquidity and user trading experience among our wide range of available assets.” The exchange states that a lack of liquidity amongst the to-be-delisted assets was a major reason for their removal.
The full list of the delisted cryptocurrency pairs includes:
ANKR/PAX, ANKR/TUSD, ANKR/USDC, BCPT/PAX, BCPT/TUSD, BCPT/USDC, BTT/BTC, DENT/BTC, DOGE/PAX, DOGE/USDC, ERD/PAX, ERD/USDC, FTM/PAX, FTM/TUSD, FUEL/ETH, GTO/PAX, GTO/TUSD, GTO/USDC, LUN/ETH, NCASH/BNB, NPXS/BTC, ONE/PAX, ONE/TUSD, PHB/PAX, PHB/USDC, TFUEL/PAX, TFUEL/TUSD, TFUEL/USDC, WAVES/PAX, WIN/BTC.
Unlike other delisting activities, Binance is removing certain pairs, without removing the actual assets. That is, remove BTT/BTC pair but BTT remains available to trade against other pairs such as BTT/ETH, BTT/BNB.
This latest purge has been linked to the slow price movement among altcoins in the current market.
This is a process by which exchanges remove or stop offering trading for some cryptocurrencies due to certain factors. Such factors could include:
Delisting is done to protect users/traders from low performing cryptocurrency assets.
When a coin is to be delisted, it typically drops in price due to market sentiment, so a first step is to convert such coin to BTC or any top coin. This will help shield against further losses due to price fall.
Exchanges usually allow withdrawals or conversions to other coins for a certain period after the announcement before finally removing from their platform.
As advised regularly, you are to keep up with news and updates in the cryptocurrency space especially news concerning your choice coins. This is achieved by checking crypto news stories on platforms such as Bitcoin.ng, subscribing to exchange newsletters and reading coin updates.
Note: When coins are delisted on one exchange, they could still be available for trading on another exchange. Delisting does not remove them entirely from the market.
You are also advised to stay off shit coins and pump and dump coins. These are coins with no potential value in the long term or ‘hyped coins’ which pump in price and dump heavily in same manner.
Although these tokens/coins may still recover, this emphasizes the need to pay attention to your cryptocurrency portfolio and market conditions. As an investing measure do not hold or buy lots of small-cap coins (coins with below $5 million market cap) as they usually fall off due to low trade volumes.
In all, always Do Your Own Research (DYOR).
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