ADA, & Three Other Crypto Faces Delisting On Binance, Brace For Market Impact
ADA & Three Other Crypto Face Delisting On Binance, Market Impact Imminent Digital asset exchange Binance will delist four trading pairs involving ADA, AEVO, AST, and MANTA as the market fluctuations continue. The exchange cited reasons ranging from enhanced market trading and liquidity for the move. Crypto exchanges change listed trading pairs periodically which also affects the momentum of tokens.Binance Will Delist ADA & Other Crypto Trading Pairs Binance announced that it will delist four crypto in BTC, BNB, and TUSD trading pairs. According to the statement, these pairs; ADA/TUSD, AEVO/BNB, AST/BTC, and MANTA/BNB will be removed on Aug 2 citing market factors. These factors stem from the need to provide high-quality trading markets for users. The platform usually acts based on reduced liquidity and trading volumes.The exchange advised users on certain steps following the announcement to avoid losses. Users can still trade ADA and other affected tokens on other pairs provided they are listed on the platform. “Delisting a spot trading pair will not affect users’ ability to trade its corresponding tokens on the Binance spot platform (if applicable). Users can still trade the underlying assets and quoted assets of the spot trading pair on other trading pairs provided by the Binance platform.”The crypto exchange will remove the trading bot service applicable to the listed pairs advising users to cancel the bots before associated services are halted. Binance is the largest exchange by trading volume making listings and delisting tokens having a higher impact on the asset’s community. Also Read: Bank of Japan Rate Hike Leads to Bitcoin Volatility, All Eyes on US Fed MeetingUsers Project Better Market ConditionsAlthough most users would not prefer to see trading pairs delisted, some opine it’s for the greater good of the general trading experience. Low liquidity in pairs can distort prices leading to hiccups for several traders. ADA community remains resolute around social media spaces on the growing momentum of the asset amid recent partnerships and upgrades. On the side of the exchange, Binance Labs continues to support the crypto market by empowering new projects. Recently, the incubation arm of the exchange invested in Particle Network, aPriori, and Pluto Studio.Binance Futures Announces Major Update Binance Futures has unveiled significant changes to its leverage and margin tiers for several popular digital assets. The update, effective August 2, 2024, impacts U-margined perpetual contracts for SOLUSDT, 1000PEPEUSDT, MEWUSDT, and TAOUSDT. These adjustments reflect Binance’s ongoing efforts to refine its trading environment, potentially in response to market conditions or risk management considerations.Also Read: Terra Hack: $5 Million Reportedly Stolen Amid Terraform Labs Bankruptcy David Pokima David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.