Binance, the largest cryptocurrency exchange in terms of volume, continues to delist cryptocurrencies and remove trading pairs. The crypto exchange recently announced the removal of 19 trading pairs.
On June 14th, 19 Trading Pairs To Be Removed
Shaken by a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) on June 5th, Binance announced in a recent statement that it would remove 19 trading pairs on June 14th. The announcement affects many altcoins, with the removal primarily seen in Binance USD (BUSD) and BNB (BNB) pairs.
According to the announcement from Binance, at 06:00 (in local time) on June 14th, BIFI/BUSD, DASH/BNB, FIO/BUSD, GAL/BNB, ILV/BNB, and KLAY/BNB trading pairs will be removed. This will be followed by the removal of LIT/ETH, MC/BNB, MINA/BNB, MLN/BUSD, ONE/ETH, and OXT/BUSD at 09:00. Finally, PEOPLE/BNB, PEOPLE/ETH, QNT/BNB, WAXP/BNB, XTZ/ETH, ZEC/BNB, and ZRX/ETH trading pairs will be removed at 11:00.
Trading Bots services for these pairs will also cease at 06:00, 09:00, and 11:00 respectively on June 14th. Binance advises users to update or cancel their Trading Bots before this service ends to avoid potential losses.
Investors will continue trading other pairs for these altcoins available on Binance.
What is a Trading Pair?
In cryptocurrencies, a trading pair expresses the value of one cryptocurrency against another cryptocurrency or fiat currency. Users trade different cryptocurrencies using these pairs on crypto exchanges. For example, BTC/USD (Bitcoin/USD) is a trading pair indicating Bitcoin’s value against the US dollar. Similarly, the ETH/BTC (Ethereum/Bitcoin) pair shows the value of Ethereum against Bitcoin.
Crypto trading pairs allow investors to monitor the value of different cryptocurrencies against each other and trade them.
