The leading crypto exchange Binance, has announced the delisting of trading pairs for three tokens, raising concerns over potential price crashes. The exchange will remove QI, TLM, and VITE trading pairs against Bitcoin (BTC), effective February 6, 2025. While the tokens remain available for trading on the platform through other pairs, the move has sparked discussions about market liquidity and investor sentiment.
Binance Announces To Delist Three Tokens
In the latest blog post, Binance confirmed the delisting of three trading pairs: QI/BTC, TLM/BTC, and VITE/BTC. The exchange stated that it regularly reviews listed assets to maintain a high-quality trading environment. Factors such as low liquidity and trading volume influenced the decision to remove these pairs.
“Binance conducts periodic reviews of all listed spot trading pairs and may delist selected spot trading pairs due to multiple factors, such as poor liquidity and trading volume” the exchange noted. This means that while these tokens remain available on the exchange, their direct BTC trading pairs will no longer exist.
In addition, the exchange will discontinue Spot Trading Bots services for these pairs on February 6, 2025. The platform advised users to update or cancel their bots to avoid potential losses.
Can This Binance Decision Impact The Crypto Prices?
Delisting trading pairs can impact investor confidence and token liquidity. When top crypto exchanges like Binance, Coinbase, and others, remove pairs, it often leads to increased volatility. Traders may rush to sell, fearing further losses, which can trigger short-term price drops.
While the exchange reassured users that QI, TLM, and VITE remain tradable on other available pairs, losing their BTC trading pairs limits their exposure. This could lead to reduced trading activity and wider price fluctuations in the short term.
For context, the exchange has recently listed AI coins, which has resulted in a price surge for the coins. It reflects the influence of these top exchanges on the investors’ sentiment.
Meanwhile, market experts suggest that these tokens may face increased selling pressure. Historically, delistings, especially from leading crypto exchanges, have led to price dips. Traders holding these assets against BTC may shift their positions, impacting demand and supply dynamics.
However, since these tokens still have trading availability on the exchange, the long-term impact remains uncertain. If alternative pairs gain traction, the effect might be less severe. But if liquidity drops significantly, it could create hurdles for investors looking to exit or enter positions.
How These Tokens Are Performing?
Following the Binance announcement, BENQI (QI) price traded near the flatline at $0.009609, while its one-day trading volume dropped 31% to $7.23 million. Notably, the token has touched a 24-hour high and low of $0.01023 and $0.009056, respectively.
On the other hand, TLM price recorded a jump of nearly 2% and traded at $0.006802 and its volume has dropped more than 40% to $23 million. The crypto has hovered between the $0.007483 and $0.006416 levels in the last 24 hours.
Meanwhile, VITE price declined around 1.2% at the same time to $0.007032 and its trading volume plunged 56% to $.13 million. Notably, the token has noted a loss of 48% over the last 30 days while witnessing a weekly drop of 29%.
The post Binance To Delist These 3 Major Tokens Sparking Price Crash Concerns appeared first on CoinGape.
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