Bitcoin
Binance Update Affecting Bitcoin (BTC) and Ethereum (ETH) Traders: Details
Summary
- Binance will cease trading for six pairs, including BTC/AEUR and ETH/AEUR, starting July 5, possibly due to low liquidity or other factors.
- Despite removing some pairs, the company added new ones such as WIF/BRL and ZK/USDC, although they are not available to users in certain restricted regions.
Binance’s latest move
The world’s largest cryptocurrency exchange – Binance – will finish trading services for the following six pairs: BTC/AEUR, ETH/AEUR, AI/TUSD, CHR/BNB, GAS/FDUSD, and LQTY/FDUSD. The changes will come into effect on July 5.
The company did not provide an exact reason for the delisting effort, noting that it periodically reviews all listed spot trading pairs and removes some in case of low liquidity or other factors.
Most of the affected cryptocurrencies are in the red today (July 3). Their poor performance coincides with the overall decline in the sector. According to data from CoinGecko, the global cryptocurrency market cap currently stands at around $2.35 trillion, down 3.5% compared to the figure seen the previous day.
Like CryptoPotato reportedBitcoin (BTC) price retreated towards the $60,000 mark, while Ethereum (ETH) fell to around $3,300.
Unlike the disruption of services for some existing trading pairs, Binance recently included some new ones on its platform. WIF/BRL, ZK/USDC and ZRO/USDC have been added to Binance Spot. It is worth noting that the service is not available to all customers:
“Currently, users residing in the following countries or regions will not be able to trade the above mentioned spot trading pairs: Canada, Cuba, Crimea Region, Iran, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, Northern Mariana Islands, US Virgin Islands), and any areas not controlled by the government of Ukraine.”
Previous Binance Announcements
The exchange has imposed numerous similar changes since the beginning of the year. Last month, ceased trading services with the following pairs: ALPACA/BTC, NFP/TUSD, MDX/BTC, QUICK/BTC and XAI/BNB.
A few months earlier, Binance had shut down all trading involving Monero (XMR). The move was followed by a drop in the price of the popular privacy coin.