Binance, one of the world’s leading cryptocurrency exchanges, announced that it will remove 11 trading pairs from the list on December 24. While some of the delisted tokens experienced price increases, some recorded significant declines. While the price of QuarkChain (QKC) decreased by 12%, the prices of tokens such as Fusionist (ACE) and AC Milan Fan Token (ACM) increased.
Trading Pairs Removed from the List
Binance announced the trading pairs to be removed as ACE/BTC, ACM/TRY, BOME/BTC, DYM/BTC, MTL/TRY, PIXEL/BNB, PIXEL/FDUSD, QKC/BTC, RAD/BTC, REZ/FDUSD and TUSD/TRY. . The exchange stated that the underlying and quoted assets of these altcoins will continue to be traded through other spot trading pairs. However, Spot Trading Bots will also be disabled on the same date.
Delist transactions will go into effect as of December 27, 03:00 UTC. Binance recommended that users cancel or update their Spot Trading Bots in time to avoid being affected by this process.
It is stated that Binance puts forward its efforts to maintain quality in the market as the reason for these decisions. However, it is stated that this step caused volatility in the prices of the delisted tokens and panic among investors.
Market Effects of Delist Decisions
Binance’s delist profit led to a 12% drop in QuarkChain (QKC) price. On the other hand, Fusionist (ACE) increased by 4% to $2,157, and AC Milan Fan Token (ACM) increased by a similar rate to $1,634. Book of Meme (BOME) increased by 5% to $0.0065, while Dymension (DYM) increased by 6% to $1.50.
Metal DAO (MTL) price also increased by 6% and rose to $1.20. Pixels (PIXEL) rose 4.6% to $0.16. Radworks (RAD) and Renzo (REZ) recorded small increases of 2%. However, given the long-term effects of past delist decisions, fluctuations in the prices of these tokens are expected to continue.
Experts warn that Binance’s delisting decisions may have positive effects on market health in the long term, but investors should be careful against possible losses in the short term.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
