Binance Announces Delisting of Six Crypto Pairs: How Are Prices Reacting?

Carmen Brooke Martin
By Carmen Brooke Martin Add a Comment
3 Min Read

Crypto exchange giant Binance has stirred the market with its latest announcement to delist certain BTC trading pairs, causing a ripple effect in the crypto landscape. This decision, which affects tokens like C98, IDEX, FIS, MBOX, REN, and TKO, has already led to price declines ranging from 1% to 4%. What does this mean for traders and the affected coins?

Binance Announces Delisting of Six Crypto Pairs: How Are Prices Reacting? = The Bit Journal

Binance to Delist Specific Bitcoin Pairs

On November 20, Binance revealed its plan to remove several cross and isolated margin trading pairs from its platform. Effective November 27 at 09:00 UTC, the exchange will delist the C98/BTC and IDEX/BTC cross-margin pairs.

Additionally, isolated margin trading pairs including C98/BTC, FIS/BTC, IDEX/BTC, MBOX/BTC, REN/BTC, and TKO/BTC will also be removed. Binance emphasized that users will no longer be able to transfer assets via manual or auto-transfer modes for these pairs, and isolated margin borrowing will end on November 21 at 09:00 UTC.

By November 27, users must close their positions to avoid automatic liquidation as all pending orders on these pairs will be canceled. However, spot trading for these assets will remain available on Binance’s platform.

Price Impact on Affected Tokens

The delisting news has already dampened the market sentiment surrounding these tokens:

  • C98 has dropped 2% in the last 24 hours, trading at $0.1459, with a daily low and high of $0.142 and $0.1518, respectively.
  • IDEX has decreased by 1% to $0.04033, within a daily range of $0.03915 and $0.04354.
  • FIS saw a 2% decline, currently at $0.3464, with a 24-hour low of $0.332 and a high of $0.3645.
  • MBOX recorded the sharpest drop of 4%, trading at $0.1875, with daily extremes of $0.1814 and $0.1949.
  • REN plunged 6%, falling to $0.04049, with lows of $0.03936 and highs of $0.04322.
  • TKO slid by 1%, now at $0.315, with daily fluctuations between $0.3054 and $0.3247.

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These price declines reflect the broader uncertainty and reduced flexibility caused by Binance’s delisting decision.

Binance Announces Delisting of Six Crypto Pairs: How Are Prices Reacting? = The Bit Journal

What This Means for Traders

The removal of trading pairs limits options for investors, potentially leading to further sell-offs in the affected tokens. Historically, delisting announcements have created similar price movements, as seen in Binance’s previous delisting of four tokens last month.

For traders, these developments underscore the importance of keeping an eye on exchange announcements and adapting strategies accordingly.

Binance’s Influence on Market Sentiment

Binance’s dominance in the crypto space makes its decisions highly influential. As reported by The Bit Journal, the delisting of these trading pairs serves as a reminder of the platform’s power to impact market dynamics. Traders and investors must remain vigilant, as such changes often lead to significant shifts in token performance and sentiment.

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Disclaimer

The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.

You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.

Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.

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Financial Writer Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry.What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content.As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.
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