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On June 26, Binance, the world's largest cryptocurrency exchange, announced the delisting of Shiba Inu, Chainlink, and five other crypto assets, effective June 28. The move is due to declining trading volumes and aims to maintain market quality, potentially impacting prices.
Binance Delists Seven Cryptos, Including Shiba Inu and Chainlink, Citing Declining Trading Volumes
As CoinGape reported, Shiba Inu, Chainlink, Memecoin, Blur, Metis, NFPrompt, and Osmosis have been delisted by Binance crypto exchanges. Prices may decrease due to macroeconomic pressure.
On June 26, Binance, the world's largest cryptocurrency exchange, announced that it would delist and discontinue spot trading combinations for certain crypto assets. Binance's announcement has an impact on the following cryptocurrencies: Shiba Inu (SHIB), Chainlink (LINK), Blur, Memecoin (MEME), Metis, NFPrompt (NFP), and Osmosis (OSMO).
Binance officially announced on June 26 that it had decided to delist and cease trading in spot trading pairs for crypto. On June 28, at 03:00 UTC, the exchange will discontinue trading in these spot trading pairings.
The crypto exchange delists the TUSD pairs for two popular cryptos, Shiba Inu (SHIB) and Chainlink. This is because the trading volumes of SHIB/TUSD and LINK/TUSD are progressively declining due to Binance's decision to reduce support for the TUSD stablecoin in response to various issues. USDT, TRY, and FDUSD will continue as part of other high-volume trading pairs.
On June 28, Binance will also discontinue trading and delisting for the following pairs: BLUR/FDUSD, MEME/ETH, METIS/FDUSD, NFP/BNB, and OSMO/BTC.
“To protect users and maintain a high quality trading market, Binance conducts periodic reviews of all listed spot trading pairs,” said Binance. “The exchange delist selected spot trading pairs due to multiple factors, such as poor liquidity and trading volume,” it added.
Furthermore, following the delisting, Binance will promptly discontinue the Spot Trading Bots services for the spot above trading pairs.
Binance's Delisting Influences Crypto Prices Amid Market Volatility and Upcoming Economic Data Release
Binance has a 48% market share in the global crypto market, and delisting announcements have historically influenced crypto price movements. The PCE inflation data and monthly options expiry are also due on Friday, so traders are expected to exercise caution.
The price of SHIB has increased by 3% in the past 24 hours, but it has since lost some of its gains. The current price of a Shiba Inu is $0.00001755, with a 24-hour low of $0.0000171 and a high of $0.00001818. The trading volume has decreased by 8% over the past 24 hours.
Additionally, the price of LINK increased by 1% before paring its gains. It currently trades at approximately $14.10, with a 24-hour high of $14.27. Furthermore, the trading volume has decreased by 46% over the past 24 hours.
In the interim, the price of MEME has increased by 1.43% in the past 24 hours, currently trading at $0.01997. Memecoin's trading volume has also decreased over the past 24 hours.
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