Cryptocurrency Exchange Binance has delisted 30 trading pairs. They are as follows:
ANKR/PAX, ANKR/TUSD, ANKR/USDC, BCPT/PAX, BCPT/TUSD, BCPT/USDC, BTT/BTC, DENT/BTC, DOGE/PAX, DOGE/USDC, ERD/PAX, ERD/USDC, FTM/PAX, FTM/TUSD, FUEL/ETH, GTO/PAX, GTO/TUSD, GTO/USDC, LUN/ETH, NCASH/BNB, NPXS/BTC, ONE/PAX, ONE/TUSD, PHB/PAX, PHB/USDC, TFUEL/PAX, TFUEL/TUSD, TFUEL/USDC, WAVES/PAX, WIN/BTC.
Binance has stated that the delisting would improve liquidity and trading experience. The exchange has further clarified that most of the delisting was suggested by project teams of the respective cryptocurrencies. Trading is a fundamental concept that involves the buy and sells of any assets. And, if you are planning to buy and sell cryptocurrencies from Binance. It will help if you learn how to trade on Binance exchange before start trading.
Some of the tokens in the delisted pairs were launched through Binance’s Launchpad included BitTorrent (BTT), Elrond (ERD), Harmony (ONE) and WINk (WIN).
BitTorrent is most prominent as its IEO Binance sold 23.76 billion BTT tokens in less than 15 minutes, which was a new record for the token sale.
The delisting was necessary to prevent low market manipulation. When there is less activity in a trading pair, a single investor or group of investors holding a significant volume of one of the pairs of digital coins can trade the coin which will artificially raise its price. This will attract other investors, which will drive the cryptocurrency’s value upwards. Then, the investor will sell the digital coin and walk off with the profits. The price of the digital coin will drop again and the people who followed his cue and invested will be left to bear the losses.
This will destabilize the market and drive away potential investors. Thus, a single investor can have a disproportionate influence on market prices in case of low liquidity. To prevent such manipulation, Binance had no option but to delisted pairs with low liquidity and consequently low trading volumes even at the risk of antagonizing, those who had trusted it and invested in its IEO offerings.