Binance to Delist 23 Trading Pairs, Impacting Shiba Inu and Dogecoin
Binance Takes Action on Margin Trading Pairs
Binance, the world’s largest cryptocurrency exchange, has recently announced its decision to delist 23 margin trading pairs. This includes notable pairs such as ADA/BUSD, DOGE/BUSD, and SHIB/BUSD. The delisting is set to take place on November 9, with automatic closure and settlement of positions for these pairs.
All of the delisted pairs are denominated in BUSD, a stablecoin that Binance plans to end support for by early 2024. The exchange is advising users to convert their BUSD holdings to other assets before February 2024.
Binance’s move to delist these trading pairs comes after a previous delisting of several BUSD pairs in October. The exchange cites reasons such as poor liquidity and trading volume as factors that led to this decision, emphasizing its commitment to protecting users and ensuring quality trading markets.
Binance Continues to Remove Trading Pairs
In addition to the delisting of margin trading pairs, Binance also recently removed other trading pairs from its platform. Last month, the exchange delisted pairs including 1INCH/BUSD, AERGO/BUSD, ANKR/BUSD, and SUSHI/BUSD. The reasons for these delistings were not explicitly stated, but Binance mentioned the need to maintain high-quality trading markets and protect users as key considerations.
Impact on Shiba Inu and Dogecoin
One notable consequence of Binance’s delisting is the effect on Shiba Inu (SHIB) and Dogecoin (DOGE), two popular memecoins. The removal of the DOGE/BUSD and SHIB/BUSD trading pairs will impact the trading activity of these tokens on Binance’s margin platform. However, users will still be able to trade SHIB and DOGE on other available trading pairs.
What Users Need to Know
If you are a Binance user, it is important to be aware of the upcoming delisting and take necessary action. Here are the key points to keep in mind:
- The delisting of the 23 margin trading pairs will occur on November 9.
- Automatic closure and settlement of positions will be conducted for these pairs.
- You can still trade the affected assets on other trading pairs available on Binance Margin.
- BUSD support will be discontinued by Binance in early 2024. Convert your BUSD holdings to other assets before February 2024.
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