Big Binance Announcement Affecting Many Altcoin Traders: Details

TL;DR

Binance will remove several trading pairs and terminate certain Trading Bots services on June 7th. Despite the delisting, most of the cryptocurrencies involved are unaffected in price, with only MEME seeing a slight decrease, while the rest benefit from the general bull market. Another update from Binance

The world’s largest cryptocurrency exchange continues to implement changes to its platform “to protect users and maintain a high-quality trading market.” Its latest amendment includes the removal of several trading pairs including DOT/TUSD, SAND/BNB, MAGIC/FDUSD, MEME/BNB, XAI/TUSD and ACE/BNB.

The delisting effort will take effect on June 7. Spot Trading Bots services for the above mentioned pairs will also be canceled on this date.

“Users are advised to upgrade and/or cancel their Spot Trading Bots before the termination of Spot Trading Bots services to avoid possible losses,” Binance warned.

The announcement does not seem to have affected the prices of most of the cryptocurrencies involved. MEME is the only one to register a slight decline, while the rest are well in the green in resonance with the overall bullish condition of the entire cryptocurrency market today (June 5).

A large price drop usually occurs when Binance stops all services with a specific digital asset, not just certain trading pairs. That was the case in February, when the popular privacy coin Monero (XMR) fell more than 20% after the exchange pulled its support.

Something similar happened earlier this week when Binance ended trading services with OmiseGO (OMG), Waves (WAVES), Wrapped NXM (WNXM), and NEM (XEM). Most of the affected listings fell by double digits shortly after the disclosure.

Previous Binance announcements

In addition to removing trading pairs due to poor liquidity, the level and quality of development activity and other reasons, Binance often introduces new ones to users.

Last week, it added BTC/MXN, XRP/MXN, ENS/USDC and LDO/USDC to Binance Spot. Two of them touch the Mexican peso (MXN), the national currency of the Latin American country. Earlier this year, the company launched a direct pair between USDT and MXN.

Before this, Binance included PEPE/EURO, AR/FDUSD, ENA/EUR, REZ/USDC and TRB/FDUSD as trading options on Binance Spot. It also allowed trading bot services for PEPE/EURO, BB/USDT, NOT/USDT, AR/FDUSD, ENA/EUR, PEPE/EUR, REZ/USDC and TRB/FDUSD.

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