NewsletterBinance To Delist DOGS, FET, & These 2 Crypto, What Lies Ahead?
Highlights
- Binance announces delisting plans for DOGS, FET, NEIRO, and NOT on Wednesday.
- Investors anticipate a looming crash ahead as a top crypto exchange discontinues support for the tokens.
- Previous delistings have sparked a bearish trajectory in assets' prices, further solidifying market concerns.
Cryptocurrency exchange Binance has again garnered significant market attention with a latest update in its trade offerings on Wednesday. Notably, the crypto exchange behemoth is delisting certain trading pairs for DOGS, FET, NEIRO, and NOT crypto tokens. As a result, traders and investors anticipate an alarming price drop ahead as a response to reduced market exposure.
Binance To Delist These 4 Crypto Trading Pairs
Binance announced in an official update on February 19 that it aims to delist 4 specific crypto spot trading pairs on February 21 at 03:00 UTC.
Here Are The Spot Trading Pairs To Be Delisted
- DOGS/BRL
- FET/BRL
- NEIRO/BRL
- NEIRO/EUR
- NOT/EUR
Why Is Binance Delisting The Specific Pairs?
Notably, the crypto exchange giant revealed that this measure comes in an effort to offer users a protected and high-quality trading market. Following the conclusion of periodic reviews, the exchange finalized delisting the abovementioned pairs amid concerns such as poor liquidity and trading volume, among other factors.
What’s More?
Further, the exchange also announced that it will terminate ‘Spot Trading Bots services’ for the above-listed crypto pairs on the same date and time. Binance urges users to update or cancel their trading bots prior to the cessation of services, primarily to avoid any losses.
Meanwhile, EUR and BRL are the official fiat currencies of Brazil and the Eurozone.
Why Are These Coins At Risk?
Usual market sentiments remain bearish in the wake of delistings on top crypto exchanges as they trigger price drops primarily due to reduced market exposure.
Intriguingly, CoinGape reported previously that Binance announced plans for delisting AirDAO (AMB), CLV, StormX (STMX), and VITE on February 17. The delisting announcement indeed generated a bearish wave in these assets’ price trajectories.
AMB price lost nearly 42% since February 17 to date, reaching 0.001876, solidifying concerns about the abovementioned tokens. CLV price also tanked over 21% within the same duration, reaching $0.03622. STMX price cracked by over 13% to date and closed in at $0.003756. Lastly, VITE price lost 50% since February 17 and exchanged hands at $0.003764.
Altogether, these waning actions cemented investors’ concerns over DOGS, FET, NEIRO, and NOT crypto tokens.
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