Markets
ADA and Three Other Cryptocurrencies Are At Risk of Delisting from Binance, Brace Yourself for Market Impact
Cryptocurrency exchange Binance will be delisting four trading pairs involving ADA, AEVO, AST, and MANTA as the market prepares for a rebound. The exchange cited reasons ranging from improved market trading and liquidity for the move. Cryptocurrency exchanges continue to change listings periodically, which also affects the token’s momentum.
Binance to Delist ADA and Other Cryptocurrency Pairs
Binance has announced that it will delist four cryptocurrencies: BTC, BNB, and TUSD trading pairs. According to the statement, these pairs; ADA/TUSD, AEVO/BNB, AST/BTC, and MANTA/BNB will be delisted on August 2nd citing market factors. These factors stem from the need to provide high-quality trading markets for users. The platform usually operates based on low liquidity and trading volumes.
The exchange advised users to take a few steps after the announcement to avoid losses. Users can still trade ADA and other affected tokens on other pairs, as long as they are listed on the platform.
“The cancellation of a spot trading pair will not affect users’ ability to trade the corresponding tokens on the Binance spot platform (if applicable). Users can still trade the underlying assets and listed assets of the spot trading pair on other trading pairs provided by the Binance platform.”
The cryptocurrency exchange will remove the trading bot service applicable to the listed pairs, advising users to cancel the bots before the associated services are discontinued. Binance is the largest exchange by trading volume, making token listings and delistings more impactful for the asset community.
Read also: Bank of Japan Rate Hike Leads to Bitcoin Volatility, All Eyes on US Fed Meeting
Users are aiming for a better market
While most users would not prefer to see paired trading delisted, some believe it is for the greater good of the overall trading experience. Low liquidity in pairs can distort prices, causing hiccups for several traders. The ADA community remains steadfast in social media spaces about the asset’s growing momentum amid recent partnerships and updates. On the exchange side,
Binance Labs continues to support the cryptocurrency market by boosting new projects.
Read also: Terra Hack: $5 Million Stolen During Terraform Labs Bankruptcy
David is a financial news contributor with 4 years of experience in Blockchain and cryptocurrency. He is interested in learning about emerging technologies and has an eye for breaking news. Keeping up to date with trends, David has written in several niches including regulation, partnerships, cryptocurrency, stocks, NFTs, etc. Away from the financial markets, David enjoys cycling and horseback riding.