Binance To Delist These Specific Trading Pairs Ahead

Binance has sparked bearish investor concerns despite a broader crypto market recovery trend on Thursday as it unveiled plans to delist certain token trading pairs ahead.

Cryptocurrency exchange Binance has announced plans to delist certain token trading pairs ahead of a broader market recovery trend on Thursday, sparking bearish investor concerns.

In an official announcement on February 20, Binance revealed that it will be removing specific ALGO and ATOM pairs from its exchange. This move is likely to present a risk factor to the asset prices, with market watchers remaining cautious about what lies ahead for these coins.

Binance To Delist These Specific Trading Pairs Ahead

According to an official Binance announcement, the crypto exchange will remove five ‘Dual Investment’ token pairs for ALGO and ATOM on February 21 at 06:00 UTC.

Here Are The Token Pairs To Be Delisted:

ALGO/BUSD (Dual)

ALGO/USDT (Dual)

ATOM/BUSD (Dual)

ATOM/USDT (Dual)

ATOM/BNB (Dual)

Why Is Binance Delisting These Pairs?

Per the official announcement, this move by the exchange comes to enhance the liquidity and services for its colossal user base. Following a thorough and regular review process of ‘Dual Investment’ token pairs, the crypto exchange giant decided to delist the abovementioned pairs.

More About The Delisting Process

Also, Binance added that users will no longer be able to subscribe to these pairs after the removal. The existing subscriptions are to remain unharmed and a settlement is to be conducted upon expiration.

Altogether, the delisting by one of the top crypto exchanges set off investor concerns, projecting a gloomy outlook for the assets due to reduced offerings in the market. For context, the tokens could witness diminished money inflow into their ecosystems amid not-so-diverse trade offerings for the assets in the market.

Past Chronicles Solidify Investor Concerns

CoinGape previously reported that Binance announced the removal of certain DOGS, FET, NOT, & NEIRO pairs recently. As a result, these coins have defied the broader market uptrend today, encountering volatility.

Also, the tokens AMB, VITE, STMX, and CLV witnessed a price crash with their delistng on the same exchange. In the wake of these volatile actions, investors remain apprehensive about ALGO and ATOM price actions ahead.

ALGO price also faced turbulence, exchanging hands at $0.2630, up nearly 1% intraday. The coin’s 24-hour low and high were $0.2568 and $0.269, respectively. ATOM price jumped by 3% intraday and closed at $4.78. The coin hit a bottom and peak of $4.61 and $4.87, respectively.