Binance Delists Nine Altcoin Spot Trading Pairs in Attempts to Enhance Market Quality

Binance, one of the world's largest crypto exchanges, has declared the delisting of nine altcoin's spot trading pairs.

Binance, a major cryptocurrency exchange, has announced the delisting of nine altcoin spot trading pairs on August 23 at 03:00 UTC.

This action is part of Binance's regular evaluation and adjustment of its listed trading pairs to maintain market quality.

The exchange noted that these delistings aim to enhance liquidity and trading volume within the platform's ecosystem.

The following trading pairs will be impacted by the delisting:

Binance further clarified that while these specific trading channels will be discontinued, the individual tokens involved will remain available on the platform.

"Users can still trade the spot trading pair’s base and quote assets on other trading pair(s) that are available on Binance," the crypto exchange explained.

Hence, users who actively trade the affected pairs are advised to adjust their trading strategies accordingly.

It's also worth noting that the exchange will be terminating spot trading bot services for these pairs at the same time.

Traders are encouraged to either cancel or update their automated trades to avoid any potential financial losses.

This round of delisting has not yet had an immediate impact on the market prices of the involved tokens.

Their continued availability in other trading pairs on Binance may be helping to cushion any negative effects.

However, the history of token delistings on Binance suggests that there could be some volatility.

For example, Binance's removal of six altcoins last week led to substantial price drops for those cryptocurrencies.

PowerPool (CVP) and Ellipsis (EPX) saw declines of 14% and 22% immediately after their removal was announced.

This trend also continued from last month when tokens like Dock (DOCK) and Mdex (MDX) experienced sharp falls, nearly 30% and 23.65%, following their delisting.

These incidents highlight the influence of exchange listings or delistings on an altcoin's valuation.