Regulation
Attention! Binance Announces Delisting of Certain Spot Trading Pairs: Details
The world’s largest crypto exchange by trading volume, Binance, announced that it would remove five spot trading pairs from its platform as part of its commitment to protecting users and maintaining a high-quality trading experience. According to the notice, affected coins include ALPACA, MDX, NFP, QUICK and XAI.
The decision was made after carrying out reviews and finding that the affected pairs did not meet the requirements. However, following this announcement, users of the platform and investors in general have expressed concerns about the potential effect on the price of the tokens.
Binance to remove trading pairs soon
After checking several factors, leading exchange Binance reached an agreement announcement As of June 12, the following spot trading pairs ALPACA/BTC, MDX/BTC, NFP/TUSD, QUICK/BTC, XAI/BNB will be removed from its platform due to poor liquidity and trading volume mediocre.
According to the announcement, trading pairs will be delisted on June 14 at 03:00 (UTC). Binance also emphasized that the removal of the aforementioned trading pairs does not affect the availability of tokens on Binance Spot. Binancers (Binance users) can still trade the asset on others spot trading pairs available on the platform.
It is important to note that spot trading bot services for affected spot trading pairs will be canceled at the same time. Users are therefore advised to take proactive steps to update or cancel their trading robots before the stated deadline to avoid losses. Users should take preventive measures to protect their investments and avoid any disruption to their trading activities.
Price movements of affected tokens
Announcements of this magnitude from a major exchange have the potential to affect the price trajectory of the affected tokens. Investors with open positions in the mentioned tokens are advised to monitor their portfolio and price trends before and after delisting in order to mitigate risks. According to new data from CoinMarketCap, all five cryptocurrencies are currently trading in the red zone.
Alpaga Finance (ALPAGA) is down 0.05% in the last 24 hours to trade at $0.16. Over the past week, its value has fallen 12% with a real market cap of $23.9 million.
Mdex (MDX) fell 1.55% to trade at $0.05 over the past day. However, looking back, MDX is up 6.31% over the past seven days with a market cap of $50.3 million.
NFP Prompt (NFP), an AI-powered UGC platform, fell 3.29% over the past 24 hours and 30.4% over the past week to trade at $0.41. NFP has a market capitalization of $100.2 million.
Quick exchange (FAST) currently changing hands at $53.28, representing a 1.54% decline over the past 24 hours. Looking at the weekly chart, QUICK quickly declined by 9.51% with a market cap of $37.9 million.
Xai (XAI) is down 1.32% to trade at $0.66 over the last 24 hours. Additionally, XAI maintained a decline of 28.51% over the past seven days with a market capitalization of $183.2 million.
Although the current price trajectory of the affected tokens is heading south, it is important to note that this corresponds to the broader movement of the crypto market, as the majority of coins are trading in the red zone according to the cryptocurrency heat map.