Binance Delists ICP and MAV Trading Pairs in Market Strategy Update

• Binance delists the ICP/BNB and MAV/TUSD pairs on July 19 and urges users to update or cancel their spot trading bots.
• The delisting aims to enhance trading quality by addressing liquidity and volume issues in the affected pairs.
• Following the delisting news, ICP and MAV prices showed volatility, with ICP trading at $9.98 and MAV at $0.2319.

Binance, the leading cryptocurrency exchange globally, has announced its decision to delist additional spot trading pairs, including Internet Computer (ICP) and Maverick Protocol (MAV). This move, unveiled on Wednesday, is part of Binance’s broader strategy to refine its trading offerings and ensure market quality.

The delisting will affect ICP/BNB and MAV/TUSD trading pairs, which will be removed on July 19 at 03:00 UTC. Binance will also terminate its spot trading bot services for these pairs, urging users to update or cancel their bots to prevent potential financial losses.

Binance periodically reviews its listed trading pairs to protect users and maintain a high-quality trading market. Delisting decisions are influenced by factors such as liquidity and trading volume.

This announcement follows the recent introduction of new reference rates and real-time indices for Internet Computer (ICP) and Ripple’s XRP by CME and CF Benchmarks, highlighting the rapidly changing landscape of the cryptocurrency market.

Following the announcement, ICP’s price adjusted slightly, trading at $9.98 after a 6.35% rise the previous day. The 24-hour price range for ICP showed a low of $9.34 and a high of $10.29. ICP futures open interest rose by 4% in the past 24 hours. Significant buying activity was observed on CoinEx and Bybit, with volumes surging by 70% and 7%, respectively.

Maverick Protocol (MAV) also surged 6.71% in the last 24 hours and is trading at $0.2319. This indicates continued interest and volatility in the cryptocurrency market despite Binance’s adjustments.

In addition to the delisting, Binance has launched a promotional event for Shiba Inu and Dogecoin, offering substantial rewards to participants. The “Battle of The Meme Dogs” event will run until July 29, engaging the crypto community during a period of significant market activity.

Binance’s decision to delist these trading pairs underscores its commitment to maintaining a robust and high-quality trading environment. This proactive approach is essential for safeguarding investor interests and sustaining long-term growth in a highly competitive and fast-paced industry.