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Binance is set to delist critical BTC, ETH, and BNB trading pairs on October 11, igniting price crash speculations across the crypto market. Investors brace for potential volatility as the deadline approaches.
Binance to Delist Key BTC, ETH, & BNB Pairs on October 11
Just recently, Binance made an announcement about its intentions to remove four trading pairs from its platform. The notification revealed that the following pairs will no longer be available on the exchange: APE/ETH, ATOM/BNB, BAL/BTC, and BNB/DAI. The cryptocurrency exchange has made an announcement, and now rumors are circulating.
Market Fears Surge as Delisting Nears
The business also mentioned that they routinely evaluate spot trading pairings, taking liquidity, trading volume, and other aspects into account, while making these decisions. Note that 3:00 UTC on October 11, 2024, is when the delisting is supposed to take place.
According to the exchange, this move is in keeping with their efforts to provide users with a top-notch trading experience. The document went on to say that individual token availability will be unaffected by the delisting of these pairs. To rephrase, there are other trading pairs that users can utilize to keep trading base and quote assets on the platform.
Spot Trading Bot Users Warned
In particular, as Coingape explains, the exchange cautioned its Spot Trading Bot customers to either update or terminate their bots for specific pairs in order to prevent potentially losing money once trading stops.
Speculation Grows as Price Volatility Looms
The market usually reacts in a mixed bag when news of Binance's delisting breaks. Investor mood is often affected by announcements like these made by the leading cryptocurrency exchanges. As an example, choices like delisting can increase uncertainty, but good developments typically lead to market confidence.
However, traders may see the delisting as an indication of less interest or less liquidity in the impacted pairs. There may be short-term price drops for these tokens as a result, leading to fears of a larger crash.
No Guarantee of a Price Crash Despite Fears
Delisting of spot trading pairs, however, is no guarantee of a price crash. Despite the fact that the possibility is still there, investors can occasionally sidestep such notifications because the exchange still offers other pairs of these cryptocurrencies.
Current Price Movements of APE, ATOM, BAL, and BNB
The current price of APE is $0.74, a 0.55% increase, and the volume of its trades has decreased by 5% to $50.44 million. Conversely, ATOM's trading volume fell 30% to $78.81 million, and the price fell around 0.5% to $4.35.
At the same time, BAL price touched a 24-hour high of $1.96 and was trading near the flatline, at $1.94. The price of BNB increased by about 2% to $582.37, and the volume of its trades increased by nearly 30% to $2.29 billion.
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