The world’s largest crypto exchange Binance on Wednesday said it will delist and cease spot trading pairs for some crypto. Shiba Inu (SHIB), Chainlink (LINK), Blur, Memecoin (MEME), Metis, NFPrompt (NFP), and Osmosis (OSMO) are the cryptocurrencies impacted by Binance’s announcement.
Crypto Exchange Binance To Delist Key Pairs for SHIB, LINK, Others
Binance reveals spot trading pairs for crypto it has decided to delist and cease, according to an official announcement by the crypto exchange on June 26. The exchange will remove and cease trading for these spot trading pairs on June 28 at 03:00 UTC.
The crypto exchange is delisting TUSD pairs for two top crypto Shiba Inu (SHIB) and Chainlink as SHIB/TUSD and LINK/TUSD gradually lose trading volumes as Binance reduces support for TUSD stablecoin due to several issues. Other high-volume trading pairs with USDT, TRY, and FDUSD will continue to exist.
Binance will also delist and cease trading for BLUR/FDUSD, MEME/ETH, METIS/FDUSD, NFP/BNB, and OSMO/BTC, pairs on June 28.
“To protect users and maintain a high quality trading market, Binance conducts periodic reviews of all listed spot trading pairs,” said Binance. “The exchange delist selected spot trading pairs due to multiple factors, such as poor liquidity and trading volume,” it added.
Moreover, Binance will also cease Spot Trading Bots services for the above-mentioned spot trading pairs immediately after the delisting.
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Shiba Inu, Chainlink Prices To Fall?
Binance has a 48% market share in the global crypto market and delisting announcements impacted crypto price movements historically. Traders are likely to remain cautious as the PCE inflation data and monthly options expiry are also due Friday.
SHIB price jumped 3% in the past 24 hours, but pared some gains over the hours. Shiba Inu price currently changing hands at $0.00001755, with a 24-hour low and high of $0.0000171 and $0.00001818, respectively. Furthermore, the trading volume has declined by 8% in the last 24 hours.
LINK price also climbed 1% and pared gains. It currently trades near $14.10, with a 24-hour high of $14.27. Moreover, the trading volume has dropped by 46% in the last 24 hours.
Meanwhile, MEME price is trading at $0.01997, up 1.43% in the last 24 hours. Trading volumes for Memecoin has also dropped in the past 24 hours.
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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
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