On October 6th, Binance, one of the world’s leading cryptocurrency exchanges, will delist 19 trading pairs due to factors such as poor liquidity and its planned discontinuation of support for the BUSD stablecoin in Q1 2024.
Binance Delisting
Key Details On October 6th, Binance also will remove 19 trading pairs. The removal will occur in two phases:
Phase 1 (Starting at 05:00 UTC):
- 1INCH/BUSD
- AERGO/BUSD
- ANKR/BUSD
- DATA/BUSD
- DIA/BUSD
- ERN/BUSD
- IOST/BUSD
- KP3R/BUSD
- LOKA/BUSD
- LRC/BUSD
Phase 2 (Starting at 07:00 UTC):
- LTO/BUSD
- MDX/BUSD
- OM/BUSD
- POLYX/BUSD
- RARE/BUSD
- SLP/BUSD
- SUSHI/BUSD
- THETA/BUSD
- YFI/BUSD
Reasons for Delisting Binance has not provided specific reasons for the delisting but mentions it as a routine practice to maintain a high-quality trading market. Factors such as poor liquidity and trading volume are considered when making these decisions.
Notably, all the trading pairs being delisted involve BUSD, and the exchange has previously announced the discontinuation of BUSD support starting in Q1 2024. As a result, Binance advises users to convert their BUSD holdings to other assets before February 2024.
Important User Advisory Despite the delisting, users will still be able to trade these tokens on the Binance Spot platform through other available trading pairs. However, the exchange strongly advises users who employ Spot Trading Bots to update or cancel their bots before the cessation of Spot Trading Bot services to avoid potential losses.
Read More:
Whales Move Large XRP Amounts Despite Ripple Lab’s Recent Triumphs
Kraken Gears Up for European Growth with Acquisition of Dutch Exchange BCM