Binance, the world's largest cryptocurrency exchange, has announced the removal of 23 margin trading pairs, including ADA/BUSD, APE/BUSD, AVAX/BUSD, BCH/BUSD, DOT/BUSD, LTC/BUSD, MATIC/BUSD, and more, effective November 9th.
Interestingly, this move also affects the two largest meme coins by market capitalization, Dogecoin (DOGE) and Shiba Inu (SHIB), as DOGE/BUSD and SHIB/BUSD pairs are among those to be delisted. Binance Margin will allow users to close their positions, perform an automatic settlement, and cancel all pending orders in the mentioned cross and isolated margin pairs, which will then be removed from Margin. Users can continue trading these assets in other available trading pairs on Binance Margin.
It should be noted that all of these are BUSD trading pairs, and Binance has previously announced the discontinuation of support for the stablecoin by early 2024. Binance has advised users to convert their BUSD assets to other assets before February 2024. On October 6th, the company delisted 1INCH/BUSD, AERGO/BUSD, ANKR/BUSD, RARE/BUSD, SLP/BUSD, SUSHI/BUSD, and 13 more pairs. The exact reasons for this initiative were not disclosed in Binance's announcement.
In the statement, Binance mentioned, "Binance periodically reviews all listed spot trading pairs to protect users and maintain a high-quality trading market, and may delist selected spot trading pairs due to various factors such as low liquidity and trading volume."
Headline: "Binance Shakes Crypto Markets with Removal of 23 Margin Pairs, Impacting Leading Meme Coins DOGE and SHIB
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