See which margin trading pairs will be removed from the Binance platform on January 6.
The world’s largest crypto exchange will delist certain pairs which will affect numerous altcoin traders.
One of the cryptocurrencies involved in the process is Cardano (ADA), whose price plummeted 3.5% on December 30.
Goodbye to these pairs
binance revealed which will delist the following cross-margined pairs: BCH/FDUSD, TAO/FDUSD, AVAX/FDUSD, LTC/FDUSD, SUI/FDUSD, ADA/FDUSD and LINK/FDUSD on January 6. It will also eliminate isolated margin pairs involving the same cryptocurrencies on that date.
“Effective immediately, users will no longer be able to transfer any amount of assets from the aforementioned pairs via manual transfers and automatic transfer mode to their isolated margin accounts. If users have outstanding liabilities of such tokens, these users can only manually transfer up to the amount of liabilities of that token to their isolated margin accounts, less any collateral already available,” the announcement reads.
The common denominator of all trading pairs that are about to be delisted is the First Digital USD stablecoin (FDUSD), and Binance did not provide a reason for its decision.
Non-stable cryptocurrencies experienced little to no volatility following the news. More substantial moves are typically seen when a coin is initially listed or when all services involving a certain token are terminated.
Previous updates
About a week ago, the exchange released another update affecting Cardano traders. This time, it opened trades for ADA/USD1 as well as the ASTER/USD1, LUNA/USDC, LUNC/USDC, and ZEC/USD1 pairs on Binance Spot.
The new service is not available to all customers, as those residing in the United States, Canada, Cuba, Iran, the Netherlands and other countries are excluded. Following the announcement, the price of ADA rose by 4%, while ASTER rose by 3.5%. For its part, LUNA experienced a double-digit increase.
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In early December, Binance announced the delisting of StaFi (FIS), REI Network (REI), and Voxies (VOXEL). The prices of the affected assets fell after the news.
The same thing happened in October when the company canceled all services with Flamingo (FLM), Kadena (KDA), and Perpetual Protocol (PERP). KDA took a big hit as its valuation plummeted by around 30% after the statement.
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