Binance Shakes Market with Delisting of BTC, ETH, and Other Key Pairs

Binance has announced the platform’s decision to remove several crypto trading pairs. This includes major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), as well as lesser-known tokens like AI, CHR, GAS, and LQTY. 

As per Binance’s official post, the exchange will be removing spot traded pairs like AI/TUSD, BTC/AEUR, CHR/BNB, ETH/AEUR, GAS/FDUSD, and LQTY/FDUSD. Each contract has a set date for closure and automatic settlement. Binance has advised traders to adjust their positions and leverage accordingly to avoid liquidation.

The exchange has reserved the right to implement additional protective measures if market conditions become volatile. These measures could include changes to maximum leverage, position values, and funding rates. Binance’s focus on risk management and market stability is evident in this announcement, although it has led to speculation about its impact on cryptocurrency prices.

Historically, announcements from major exchanges like Binance affect market sentiment. Positive news often raises prices, while negative developments can lower investor enthusiasm. The delisting of trading pairs may create uncertainty, causing investors to rethink their positions and trading strategies.

Crypto assets affected by Binance’s decision show varied price movements in response to the news. Ethereum (ETH) is trading at $3,312.83, experiencing a slight decline over the past day and week. Bitcoin (BTC) is valued at $60,428.36, also showing a downward trend.

Sleepless AI (AI) is priced at $0.6741, with a minor increase in the last 24 hours but a decrease over the week. Chromia (CHR) stands out with positive performance, trading at $0.234 showing an increase both in the last day and over the week. 

Gas (GAS) is priced at $3.57, facing a decline in both short-term and weekly timeframes. Lastly, Liquity (LQTY) is valued at $0.8867, with a slight daily decrease but a weekly increase.

These price movements reflect the immediate market reaction to Binance’s announcement. While some cryptocurrencies are showing resilience, others are experiencing downward pressure.