Binance Announces Removal of Multiple Trading Pairs Including BAT, CVX, FORTH
Luisa Crawford Sep 07, 2023 02:10
Binance delists 22 spot trading pairs in three phases, starting at 05:00 UTC on September 8, 2023. Users are advised to update or cancel their bots and convert BUSD assets into other available assets before February 2024.
Key Takeaways
* Binance to delist a total of 22 spot trading pairs on September 8, 2023.
* The delisting is part of Binance's periodic review to ensure a high-quality trading market.
* Users advised to update or cancel their Spot Trading Bots to avoid potential losses.
With the aiming at maintaining market quality and protecting users, Binance, one of the world's leading cryptocurrency exchanges, has announced the delisting of several spot trading pairs. The announcement was made on September 6, 2023, and the changes will take effect on September 8, 2023, at various times throughout the day.
Delisting Details
According to the official announcement, the delisting will occur in three phases:
At 05:00 (UTC): AUDIO/BUSD, BAT/BUSD, BSW/BUSD, CITY/BUSD, CVX/BUSD, FORTH/BUSD, JUV/BUSD, MOB/BUSD
At 07:00 (UTC): OGN/BUSD, OMG/BUSD, PLA/BUSD, POLS/BUSD, REI/BUSD, RSR/BUSD, SCRT/BUSD, TVK/BUSD
At 09:00 (UTC): ADA/BIDR, MATIC/BIDR, UTK/BUSD, ZIL/BIDR
The delisting is attributed to "multiple factors, such as poor liquidity and trading volume," but specific data points were not disclosed.
Impact on Spot Trading Bots
Binance will also terminate Spot Trading Bots services for the affected trading pairs at the corresponding times. Users are "strongly advised to update and/or cancel their Spot Trading Bots prior to the cessation of Spot Trading Bots services to avoid any potential losses."
Future of BUSD on Binance
Interestingly, the announcement also encourages users to convert their BUSD assets into other available assets on Binance before February 2024. Users have the option to trade their BUSD balances for FDUSD at zero trading fees or convert their BUSD balances to FDUSD at a 1:1 ratio using the convert portal.
Implications for Traders
While the delisting of a spot trading pair does not affect the availability of the tokens on Binance Spot, it does limit the trading options for users. Traders are advised to adjust their strategies accordingly and to be aware of the upcoming changes to avoid any financial setbacks. Binance also encourages users to convert BUSD to other Stablecoins pior to February 2024.
Conclusion
The delisting is a part of Binance's ongoing efforts to provide a secure and efficient trading environment. It serves as a reminder for traders to stay updated on exchange policies and to adapt their trading strategies as needed.
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