Binance To Cease Trading On Seven Spot Pairs
Cryptocurrency exchange platform Binance has announced that it will remove and cease trading on seven spot trading pairs at 03:00 UTC on May 4, 2023. The affected spot trading pairs are AXS/BRL, GAL/BRL, GLMR/BNB, RAD/BNB, UNI/EUR, VOXEL/BNB, and YGG/BNB.
Binance will remove and cease trading on the following spot trading pairs at 2023-05-04 03:00 (UTC): AXS/BRL, GAL/BRL, GLMR/BNB, RAD/BNB, UNI/EUR, VOXEL/BNB, YGG/BNB. https://t.co/OaJ5DCtYdS
— Wu Blockchain (@WuBlockchain) May 2, 2023
Delisting of Spot Trading Pairs
Binance clarified that users will still be able to trade the aforementioned assets on other trading pairs that are available on the platform. However, the exchange will terminate strategy trading services for the affected spot trading pairs at the same time, where applicable. Binance has advised users to update and/or cancel their trading strategies before the cessation of strategy trading services to avoid potential losses.
Binance has not provided a specific reason for the removal of these trading pairs. However, the exchange has previously delisted trading pairs that have low trading volumes or do not meet the platform’s listing standards. It is worth noting that several of the delisted trading pairs are relatively new, having been listed on the platform in the past few months.
The announcement has not caused any significant price movements for the affected assets so far. However, traders and investors are advised to closely monitor the situation and adjust their trading strategies accordingly.
English Version Supremacy
Binance also reminded its users that in the event of any discrepancies between the translated versions of the announcement and the original English version, the English version shall prevail. This is to ensure that all users have access to the most accurate information regarding the delisting of the trading pairs.
Being one of the largest cryptocurrency exchanges in the world, with a daily trading volume of over $20 billion, the Binance platform offers a wide range of trading pairs, including popular cryptocurrencies such as Bitcoin, Ethereum, and Binance Coin. The exchange has faced regulatory scrutiny in several countries, including the United States and China, and has taken steps to comply with local laws and regulations.
