Binance, the largest crypto exchange in the world announced its plans to delist three spot trading pairs in line with the exchange’s high standard for spot trading pairs.
In a recent announcement, Binance stated that it would be delisting PEPE/TUSD, DCR/BTC, and ZEN/ETH spot trading pairs effective Dec 13 at 03:00 UTC.
“ The delisting of a spot trading pair does not affect the availability of the tokens on Binance Spot. Users can still trade the spot trading pair’s base and quote assets on other trading pair(s) that are available on Binance.
Binance will terminate Spot Trading Bots services for the aforementioned spot trading pairs at 2024–12–13 03:00 (UTC) where applicable. Users are strongly advised to update and/or cancel their Spot Trading Bots prior to the cessation of Spot Trading Bots services to avoid any potential losses.” Binance clarified
Poor Liquidity and Trading Volume tops Binance’s Delisting Criteria
Binance reminded its community of some of the factors that could lead to the delisting of a spot trading pair. The exchange conducts a periodic review of all listed spot trading pairs to ensure they meet the trading environment standards set by the exchange.
Poor liquidity and a low trading volume are some of the foremost reasons a spot trading pair could get delisted by the exchange.
At the time of writing this report PEPE/TUSD trading pair had a 24-hour trading volume of 120,279 TUSD, the ZEN/ETH trading pair had a trading volume of just 16.81 ETH, while the DCR/BTC pair’s 24-hour trading volume was just a measerly 1.41 BTC.
These are low trading volumes and could be the key reason why the spot trading pairs were delisted.
Pepe’s Price Analysis
Pepe remains the third largest memecoin behind Dogecoin and Shiba Inu. Surprisingly Pepe has not reacted negatively to the delisting announcement by Binance.
At the time of the report, the memecoin was exchanging hands for $0.0000248 surging by 6.1% in the last 24 hours. The memecoin is also up by 18.8% on a 7-day scale.
The Binance effect on the Price action of crypto assets
Binance in the past has influenced the price of crypto assets by simply listing or delisting them on their platform.
At the peak of the November Bull run, two Solana memecoins PNUT and ACT went ballistic following a Binance listing. Their Market capitalization surged by 1,199% and 208%, respectively.
Similarly, crypto assets tend to plunge when they get delisted from the platform. A good example is Monero ( XMR) which plunged by 20% when Binance suspended trading services for the crypto asset.
PEPE has surprisingly not reacted to its spot trading pair getting delisted and is still on the upside at the time of this report.
