Binance To Delist These Key Crypto Pairs, Price Dip Looming?

News

Binance, the world’s largest cryptocurrency exchange, has revealed plans to delist several trading pairs from its platform. This decision affects pairs involving well-known cryptocurrencies such as ALPACA, MDX, NFP, QUICK, and XAI. The announcement has stirred reactions among investors regarding the potential repercussions on prices and overall market sentiment.

This move goes to show that Binance’s ongoing efforts to mitigate risk and sustain market stability. By carefully managing the assets available for trading, Binance aims to enhance the integrity and security of its platform, ensuring a safer environment for its users.

Details of the Affected Trading Pairs

The specific trading pairs scheduled for removal include ALPACA/BTC, MDX/BTC, NFP/TUSD, QUICK/BTC, and XAI/BNB. According to a recent statement from Binance, the delisting will take effect on June 14 at 03:00 (UTC). This news has sent ripples through the crypto community, prompting users to adjust their portfolios ahead of the deadline.

Binance has strongly advised users to update and cancel their Spot Trading Bots prior to the cessation of Spot Trading Bot services to avoid any potential losses. This preemptive action is crucial for users to safeguard their assets and prevent any disruptions in their trading activities.

Also Read: Bitcoin Miner Capitulation Can Extend BTC Price Drop to $62,500

Delisted Pairs’ Show Price Declines

Binance’s decision to delist these trading pairs aims to mitigate risks and enhance market integrity, highlighting the inherent volatility and unpredictability of digital asset trading. Market participants are urged to stay informed, monitor developments closely, and exercise caution when managing their portfolios. Amid a recent market decline, prices of the affected cryptocurrencies have shown notable declines as well:

  • Alpaca Finance (ALPACA): Currently priced at $0.1592, ALPACA has experienced a -1.14% decline in the last 24 hours and a -13.10% decline over the past 7 days, with a market cap of $23.7 Million.
  • Mdex (HECO) (MDX): MDX is priced at $0.03549, reflecting a -2.71% decline in the last 24 hours and a -1.40% decline in the past week, with a market cap of $33.7 Million.
  • NFPrompt (NFP): NFP’s current price is $0.3988, showing a -3.86% decline in the last 24 hours and a significant -29.57% decline over the past 7 days.
  • Quickswap (QUICK): QUICK is priced at $0.04992, with a -2.45% decline in the last 24 hours and a -9.44% decline in the past week, and a market cap of $35.5 Million.
  • Xai (XAI): XAI stands at $0.6527, experiencing a -2.87% decline in the last 24 hours and a -24.61% decline over the past 7 days, with a market cap of $181 Million.

The delisting of these trading pairs may inject uncertainty into the market, prompting investors to reassess their positions and trading strategies. As market dynamics continue to evolve, staying informed and adapting to changes will be crucial for investors navigating cryptocurrencies.

Also Read: Grayscale Bitcoin ETF Records $121M Outflows Amid Falling Asset Price

The post Binance To Delist These Key Crypto Pairs, Price Dip Looming? appeared first on CoinGape.

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