The leading crypto exchange Binance rattled traders and investors with its latest update to delist four token pairs shortly ahead. The exchange revealed in an official announcement this Wednesday that certain GALA, PERP, and USDT pairs will be delisted soon. In response, market participants anticipate price volatility in these assets, given that a top crypto exchange discontinues support.
According to the crypto exchange’s official announcement on March 26, 4 spot trading pairs will be delisted before the month ends. Notably, GALA/BNB and PERP/BTC trading pairs are set to be delisted from the platform on March 28 at 03:00 UTC.
Also, the top crypto exchange revealed that USDT/CZK and USDT/RON trading pairs will be delisted on March 31 at 23:59 UTC. “CZK and RON are fiat currencies and do not represent any other crypto tokens,” the announcement clarified.
As per the announcement, the delisting chronicle comes primarily to protect the platform’s colossal user base from market risks and ensure a high-quality trading experience. Following a thorough and periodic review of all assets, the exchange forges ahead with these delistings due to factors such as poor liquidity, trading volume, and regulatory compliance.
Furthermore, Binance revealed that ‘Spot Trading Bots’ services for the abovementioned pairs will also be terminated on the same date and time. Users are strongly advised to shut spot trading bot orders for these assets before the delisting begins.
Historically, delisting on top crypto exchanges reflects a bearish market sentiment, given that the assets remain poised to witness reduced market interaction. As a result, traders and investors anticipate diminished returns ahead.
As of press time, GALA price jumped over 4% despite its delisting announcement, reaching $0.01899. The coin bottomed and peaked at $0.01825 and $0.01898 in the past 24 hours.
Perpetual Protocol (PERP) price saw a marginal 0.5% uptick in value and exchanged hands at $0.3939. Its intraday low and high were $0.387 and $0.3963, respectively. Although the coins are currently witnessing an uptick, market sentiments about future prospects remain unsure due to the Binance delisting announcement.
In another similar saga, CoinGape reported that the same exchange delisted the cryptos AERGO, AirSwap (AST), BurgerCities (BURGER), Combo (COMBO), and Linear Finance (LINA). In turn, broader sentiments about these assets’ prices also took a bearish shift amid discontinued support on a top CEX.
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