Binance, the world’s largest cryptocurrency exchange, has made some significant changes that will impact traders. They have announced the termination of trading services for six pairs, including BTC/AEUR and ETH/AEUR, effective July 5. The reason for this delisting is not explicitly stated, but it is likely due to poor liquidity or other factors that the company regularly reviews.
As a result of this news, the majority of the affected cryptocurrencies are experiencing a decline in their prices. Today, Bitcoin (BTC) is hovering around the $60K mark, while Ethereum (ETH) is at approximately $3,300. This downward trend in prices coincides with the overall decline in the global crypto market capitalization, which currently stands at around $2.35 trillion, a 3.5% drop from the previous day.
Despite discontinuing some trading pairs, Binance has added new ones like WIF/BRL, ZK/USDC, and ZRO/USDC to its platform. However, it is important to note that these new pairs are not available to users in certain restricted regions, including the United States, Canada, and Iran.
This move by Binance is not the first of its kind this year. In the past, the exchange has made similar changes, such as ceasing trading services for pairs like ALPACA/BTC and NFP/TUSD. Additionally, a few months ago, Binance completely stopped all operations involving Monero (XMR), leading to a price crash for the popular privacy coin.
In conclusion, Binance’s decision to delist certain trading pairs may have a significant impact on traders, especially those who were actively trading BTC/AEUR and ETH/AEUR. It is essential for users to stay informed about these changes and adjust their trading strategies accordingly. Additionally, with the added restrictions on new trading pairs, traders in certain regions may need to explore alternative platforms for their cryptocurrency trading needs.