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Highlights
- Binance reveals plans to delist certain ALGO and ATOM trading pairs ahead.
- The crypto exchange's past delisting sagas raise concerns of ALGO and ATOM prices.
- However, the two coins trade in the green today due to the broader crypto market trend.
Binance has sparked bearish investor concerns despite a broader crypto market recovery trend on Thursday as it unveiled plans to delist certain token trading pairs ahead. In an official announcement on February 20, the crypto exchange giant revealed that it is delisting specific ALGO and ATOM pairs, posing a risk factor to the asset prices. Market watchers remain cautious about what lies ahead for these coins as the latest decision by the exchange comes as a setback presenting reduced market visibility and thus, diminished investor interest.
Binance To Delist These Specific Trading Pairs Ahead
According to an official Binance announcement, the crypto exchange will remove five ‘Dual Investment’ token pairs for ALGO and ATOM on February 21 at 06:00 UTC.
Here Are The Token Pairs To Be Delisted:
- ALGO/USDT
- ALGO/USDC
- ATOM/USDT
- ATOM/FDUSD
- ATOM/USDC
Why Is Binance Delisting These Pairs?
Per the official announcement, this mover by the exchange comes to enhance the liquidity and services for its colossal user base. Following a thorough and regular review process of ‘Dual Investment’ token pairs, the crypto exchange giant decided to delist the abovementioned pairs.
More About The Delisting Process
Also, Binance added that users will no longer be able to subscribe to these pairs after the removal. The existing subscriptions are to remain unharmed and a settlement is to be conducted upon expiration.
Altogether, the delisting by one of the top crypto exchanges set off investor concerns, projecting a gloomy outlook for the assets due to reduced offerings in the market. For context, the tokens could witness diminished money inflow into their ecosystems amid not-so-diverse trade offerings for the assets in the market.
Past Chronicles Solidify Investor Concerns
CoinGape previously reported that Binance announced the removal of certain DOGS, FET, NOT, & NEIRO pairs recently. As a result, these coins have defied the broader market uptrend today, encountering volatility.
Also, the tokens AMB, VITE, STMX, and CLV witnessed a price crash with their delisting on the same exchange. In the wake of these volatile actions, investors remain apprehensive about ALGO and ATOM price actions ahead.
ALGO price also faced turbulence, exchanging hands at $0.2630, up nearly 1% intraday. The coin’s 24-hour low and high were $0.2568 and $0.269, respectively. ATOM price jumped by 3% intraday and closed at $4.78. The coin hit a bottom and peak of $4.61 and $4.87, respectively.
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