- Binance is removing specific trading pairs on October 13, 2023, due to factors like low liquidity and trading volume.
- Spot Trading Bots for these pairs will also be terminated, so users should update or cancel them in time.
In a recent move, the world’s leading cryptocurrency exchange, Binance, has announced the delisting of numerous spot trading pairs, slated for October 13, 2023. The initial group, featuring pairs like BEL/BUSD, DOT/GBP, and more, will witness cessation at precisely 06:00 (UTC).
The next set, containing OCEAN/BUSD, ONT/BUSD, PERP/BUSD, RSR/BNB, SFP/BUSD, STG/BUSD, SUPER/BUSD, TLM/BUSD, etc., will be withdrawn at 07:00 (UTC). This decision, derived from rigorous reviews examining liquidity and trading volume, aims to maintain a superior trading market.
Changes in Spot Trading Bots Services
Coinciding with this, Spot Trading Bots services for the outlined pairs will be terminated. Users are encouraged to modify or discontinue their bots by the designated times to avert possible financial setbacks. Despite this, the involved tokens will retain their presence on Binance Spot. Investors and traders can navigate other available trading pairs to continue trading base and quote assets.
Conversion of BUSD Assets
Furthermore, Binance nudges users to transition their BUSD assets into other viable assets on the platform before February 2024. Binance offers a fee-free trading alternative for swapping BUSD balances to FDUSD and a direct 1:1 conversion through a specified portal. This ensures a straightforward user transition, underlining Binance’s dedication to facilitating undisturbed trading and user ease despite the selected pairs’ forthcoming removal.
Through these steps, Binance solidifies its dedication to sustaining a vigorous and quality trading market, prioritizing user interests, and maintaining the steadfast integrity of the platform.
Previous Delisting Actions
This move by Binance is not an isolated incident. Earlier this month, the exchange removed 19 additional trading pairs, including ANKR/BUSD, DATA/BUSD, 1INCH/BUSD, POLYX/BUSD, RARE/BUSD, SLP/BUSD, SUSHI/BUSD, and others. Binance justified these periodic reviews and delistings by stating that they aim to protect users and maintain a high-quality trading market. Factors such as poor liquidity and trading volume influenced these decisions.
Additionally, in July, Binance.US, the U.S.-based branch of Binance, revealed its decision to discontinue and cease trading for certain USD Advanced Trading pairs as part of its transition towards becoming a “crypto-only exchange,” as reported by Crypto News Flash.
This strategic shift involves exclusively supporting trading between cryptocurrencies and stablecoin pairs while eliminating trading against the U.S. dollar. The affected cryptocurrencies include Bitcoin, Ethereum, BNB, Litecoin, Polygon MATIC, Cardano, Solana, VeChain, and the USDC stablecoin.
