The world”s largest cryptocurrency exchange, Binance, has announced it will be removing several trading pairs that will significantly impact many altcoin traders. Effective January 6, the platform will delist specific cross-margin pairs that include Cardano (ADA), which recently experienced a price drop of 3.5% on December 30.
Among the pairs set to be removed are BCH/FDUSD, TAO/FDUSD, AVAX/FDUSD, LTC/FDUSD, SUI/FDUSD, ADA/FDUSD, and LINK/FDUSD. Additionally, Binance will also eliminate the isolated margin pairs involving the same cryptocurrencies on the same date. A common theme among all these trading pairs is the stablecoin First Digital USD (FDUSD), although Binance has not specified the reasons for this decision.
Following the announcement, the prices of the non-stablecoin cryptocurrencies remained relatively stable, showing little volatility. Typically, one would expect more significant price movements when a token is first listed or when all trading services related to a specific token are terminated.
In a previous update, just a week before the current announcement, Binance had opened trading for ADA/USD1 along with pairs ASTER/USD1, LUNA/USDC, LUNC/USDC, and ZEC/USD1 on the Binance Spot market. However, this new service is not accessible to clients located in the United States, Canada, Cuba, Iran, the Netherlands, and several other countries. Following that update, ADA”s price surged by 4%, while ASTER climbed by 3.5%. In contrast, LUNA saw a notable double-digit increase.
Earlier this December, Binance had also announced the removal of other tokens, including StaFi (FIS), REI Network (REI), and Voxies (VOXEL). The prices of these affected assets subsequently declined following the news. This pattern of price drop was also observed in October when Binance terminated services for Flamingo (FLM), Kadena (KDA), and Perpetual Protocol (PERP), with KDA suffering a significant crash of approximately 30% in its valuation after the announcement.
As the market reacts to these changes, traders should remain vigilant and adjust their strategies accordingly, particularly those holding the affected altcoins.
