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Binance Delisting Major Cryptos: Price Concerns Rise

Binance Delisting Major Cryptos: Price Concerns Rise

Binance, the world’s largest cryptocurrency exchange, has announced the delisting of several crypto trading pairs from its platform. Consequently, tremors have rippled through the market, causing concern among investors. APE, XTZ, ROSE, ICX, and other prominent cryptocurrency trading pairs are among those affected by the decision. The move has raised questions about its potential impact on prices and overall market sentiment.

Binance’s Delisting Announcement Makes People Wonder

Recently, Binance Futures revealed plans to modify margin and leverage tiers for COIN-M trading pairs and delisting many perpetual contracts. KNC/USD, ICX/USD, XTZ/USD, ROSE/USD, and APE/USD are among the impacted contracts; closing and automated settlement are slated for particular times.  

In the meantime, the cryptocurrency exchange has asked traders to pay attention to the warnings because neglecting to modify positions and leverage could result in liquidation risks. Furthermore, in the event of volatile market conditions, Binance retains the right to take further precautionary measures that may impact funding rates, maximum leverage, and position values. 

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The announcement, in particular, highlights Binance’s proactive approach to risk management and market stability. It has, however, also sparked conjecture about its possible influence on the cryptocurrency above prices.  

Major exchange announcements have a history of affecting market sentiment. Positive news tends to boost prices, while unfavorable events stifle investor enthusiasm. In this instance, investors may reevaluate their positions and trading tactics due to delisting trading pairs, which could confuse the market. 

Prices Hold Steady Despite Recovery in the Broader Market 

Navigating the bitcoin market demands alertness and flexibility from traders and investors. Although Binance’s moves are intended to reduce risks and improve market integrity, they also draw attention to the inherent unpredictability and volatility of trading digital assets. As a result, market players are advised to keep themselves updated, keep a close eye on developments, and manage their portfolios carefully.  

Nonetheless, the price of Kyber Network Crystal v2 increased 5.14% to $0.6134 due to the general cryptocurrency market’s rebound. ICX was trading at $0.2318, up 5.15% since Binance announced delisting. 

KNC Price Chart

 

 

Simultaneously, the price of Tezos surged by 5.42%, reaching $0.9587. Similarly, the cost of ROSE rose by 5.18%, hitting $0.092. Conversely, the cost of APE experienced a 5.89% increase, reaching $1.29. Meanwhile, its trading volume soared by over 6%, totaling $46.2 million.

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