Incoming Binance Update Affecting Bitcoin (BTC) and Ethereum (ETH) Traders: Details
TL;DR
- Binance will terminate trading for six pairs, including BTC/AEUR and ETH/AEUR, effective July 5, possibly due to poor liquidity or other factors.
- Despite delisting some pairs, the company has added new ones like WIF/BRL and ZK/USDC, though these are not available to users in certain restricted regions.
Binance’s Latest Move
The world’s largest cryptocurrency exchange – Binance – will terminate trading services for the following six pairs: BTC/AEUR, ETH/AEUR,AI/TUSD, CHR/BNB, GAS/FDUSD, and LQTY/FDUSD. The amendments will take effect on July 5.
The company did not provide an exact reason for the delisting effort, reminding that it periodically reviews all listed spot trading pairs and removes some in case of poor liquidity or other factors.
The majority of the affected cryptocurrencies are in the red today (July 3). Their poor performance coincides with the sector’s overall decline. According to CoinGecko’s data, the global crypto market capitalization is currently standing at around $2.35 trillion, a 3.5% plunge compared to the figure observed the day before.
As CryptoPotato reported, Bitcoin’s (BTC) price retraced toward the $60K mark, while Ethereum (ETH) dipped to approximately $3,300.
Contrary to halting services for some existing trading pairs, Binance recently included some new ones in its platform. WIF/BRL, ZK/USDC, and ZRO/USDC were added to Binance Spot. It is worth noting that the service is not available to all clients:
“Currently, users residing in the following countries or regions will not be able to trade the above-mentioned spot trading pair(s): Canada, Cuba, Crimea Region, Iran, Netherlands, North Korea, Syria, United States of America, and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine.”
Previous Binance Announcements
The exchange has enforced numerous similar changes since the beginning of the year. Last month, it ceased trading services with the following pairs: ALPACA/BTC, NFP/TUSD, MDX/BTC, QUICK/BTC, and XAI/BNB.
A few months before, Binance terminated all operations involving Monero (XMR). The move was followed by a price crash for the popular privacy coin.
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