Bitcoin price increase has excited cryptocurrency exchanges and led them to turn their attention to altcoins with strong appearances. In this context, Binance kept the market busy last month with several launchpool projects and listing announcements. Following the recent decline, Binance made a significant decision and announced the removal of 16 pairs from margin trading.
Binance Decides to Drop Certain Pairs
Binance exchange, in an effort to maximize benefits, has been listing certain altcoins that it deems potentially advantageous while adding some of these to Margin and Futures to earn additional profits. Additionally, the exchange aims to reduce its workload by discontinuing weaker pairs from certain projects.
In this regard, Binance has recently announced that 16 different pairs will be removed from margin trading.
The announcement was as follows:
Binance Margin will delist the following margin trading pairs at 2024-03-15 06:00 (UTC):
Cross Margin: ALICE/BTC, BAL/BTC, BOND/BTC, GNS/BTC, OAX/BTC, SXP/BNB
Isolated Margin: ALICE/BTC, BAL/BTC, BOND/BTC, CHESS/BTC, DEGO/BTC, GNS/BTC, HARD/BTC, OAX/BTC, ORN/BTC, WING/BTC
It was announced that Binance would suspend borrowing in isolated margin for the mentioned trading pairs on March 8 at 09:00, and on March 15 at the same time, investor positions would be automatically closed.
Current Status of Bitcoin and Altcoins
While all this is happening, eyes seem to have turned to the Bitcoin price. Last night, Bitcoin revisited its all-time high, reaching $69,000. Following this, BTC experienced a sharp price drop, briefly touching the $59,000 level.
As of writing, the price appears to have recovered strongly, rising back to the $65,600 level despite a 2% drop in the last 24 hours. During this period, Bitcoin’s 24-hour trading volume increased by 28%, surpassing $100 billion, which could be interpreted as continued investor interest in BTC.
Ethereum (ETH), Bitcoin’s biggest follower, had a positive outlook in contrast to the market. Ethereum (ETH) is at $3,750, up 1%, which continues to instill confidence in investors ahead of ETF expectations and the upcoming Dencun upgrade.
Among the top 10 altcoins by market cap, the biggest declines were seen in meme coins. DOGE and SHIB, recently re-entering the list, disappointed investors for the first time in days. DOGE’s price fell by 10%, while SHIB’s exceeded 11%. Their prices were $0.166 and $0.00003554, respectively.
