Binance Takes a Stand for Quality: Delisting 22 Trading Pairs on September 8, 2023
- Binance will delist 22 spot trading pairs on September 8, 2023.
- Users should update or cancel their Spot Trading Bots to prevent potential losses.
In its continuous pursuit of maintaining a high-quality trading environment and safeguarding user interests, Binance, a leading global cryptocurrency exchange, has unveiled plans to delist several spot trading pairs. This decision, disclosed on September 6, 2023, is set to take effect on September 8, 2023, at different times during the day.
Delisting Details
The delisting process will be executed in three phases:
05:00 (UTC): AUDIO/BUSD, BAT/BUSD, BSW/BUSD, CITY/BUSD, CVX/BUSD, FORTH/BUSD, JUV/BUSD, MOB/BUSD
07:00 (UTC): OGN/BUSD, OMG/BUSD, PLA/BUSD, POLS/BUSD, REI/BUSD, RSR/BUSD, SCRT/BUSD, TVK/BUSD
09:00 (UTC): ADA/BIDR, MATIC/BIDR, UTK/BUSD, ZIL/BIDR
The rationale behind the delisting primarily revolves around factors such as “poor liquidity and trading volume.” However, specific data points leading to the decision were not disclosed.
Binance will also cease its Spot Trading Bots services for the affected trading pairs at the respective times mentioned. Users are strongly advised to “update and/or cancel their Spot Trading Bots before the cessation of Spot Trading Bots services” to mitigate potential losses.
An intriguing aspect of the announcement is Binance’s recommendation for users to convert their BUSD assets into other available assets on the platform before February 2024. Users have the option to either trade their BUSD balances for FDUSD with zero trading fees or convert their BUSD balances to FDUSD at a 1:1 ratio using the provided convert portal.
Although the delisting of spot trading pairs won’t impact the availability of tokens on Binance Spot, it does restrict trading options for users. Traders are advised to adapt their strategies accordingly and remain vigilant about the impending changes to avoid any financial setbacks. Binance also encourages users to consider converting their BUSD to other stablecoins before February 2024.
Binance’s decision to delist these trading pairs is a testament to its commitment to providing a secure and efficient trading environment. It serves as a reminder for traders to stay informed about exchange policies and be flexible in adjusting their trading strategies when necessary.
