See which spot trading pairs will no longer be available as of January 9.
The digital assets involved in the move are all in red territory today (January 8), coinciding with the broader market’s correction.
The coming amendment
Binance is committed to protecting users and maintaining a high-quality trading market. Therefore, it conducts periodic reviews of all listed pairs on the platform and removes those that do not meet the necessary standards.
According to the most recent analysis, the company has decided to cut 23 pairs including 1000SATS/FDUSD, BIO/BNB, EGLD/BNB, HUMA/FDUSD, IOTA/ETH, MORPHO/BNB, NEIRO/FDUSD, RONIN/FDUSD and many more. The removal is scheduled for January 9 and the team explained that it will not affect the availability of the tokens on Binance Spot.
“Users can still trade the basic spot trading pair and list assets on other trading pairs available on Binance,” the announcement reads.
Most of the cryptocurrencies included in the initiative have moved south, which should come as no surprise. As the largest crypto exchange, Binance’s withdrawal of support typically results in reduced liquidity, reduced visibility and reputational damage. Bio Protocol (BIO) took the biggest hit, with its price dropping 10% daily.
It is important to note that the broader decline of the crypto market may have also negatively impacted the aforementioned coins. Bitcoin (BTC), which started the year with a marked increase, recently fell below $90,000, while altcoins like Zcash (ZEC) witnessed double-digit losses in the past 24 hours.
Previous deletions
In addition to removing trading pairs, Binance sometimes terminates all services with certain assets, which usually leads to more substantial price drops. At the end of October, it announced the delisting of Flamingo (FLM), Kadena (KDA) and Perpetual Protocol (PERP). Somewhat predictably, affected tokens collapsed immediately after the news, with KDA crashing 30%.
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An increased level of volatility was also seen last month, when the exchange said it would no longer support StaFi (FIS), REI Network (REI), and Voxies (VOXEL). The affected tokens rallied prior to the reveal, but after that they went south.
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