What do you think of Binance’s move?

yudi09

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Quote from: shanhaigamefi on May 22, 2024, 02:38:47 AM

Binance has announced the delisting of several margin trading pairs involving popular cryptocurrencies such as SEI, SUI, and CHESS. What impact will this move have?

IMO, only a Binance representative can give you the right answer. Apart from them, perhaps most of us here are just speculating.

It doesn't benefit them so Binance made an announcement regarding the removal of the crypto you mentioned.
Binance has also removed others. For me it doesn't have any impact on the elimination of the crypto because we only care about Bitcoin.
I will return any other things you want to know to those who can confirm them.

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Quote from: shanhaigamefi on May 22, 2024, 02:38:47 AM

Binance has announced the delisting of several margin trading pairs involving popular cryptocurrencies such as SEI, SUI, and CHESS. What impact will this move have?

They know their metrics and that's why they need to move such pairs and remove it if it's not in demand anymore base on the report that they have for their performances. There is no impact for it in general but if it's about for those coins that will be delisted, there's a huge impact for them. Knowing that it is Binance that has a huge volume attributed to their market, it's certainly a big loss for them upon getting those pairs delisted. Do not forget that Binance is a business and anything that doesn't contribute profit to them, they have to remove it.

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Quote from: Apocollapse on May 22, 2024, 04:56:48 AM

They also can delist Bitcoin, does this will affect Bitcoin? nope, we can still trade in DEX or no KYC P2P.

They can delist Bitcoin as well as they can shut down their exchange. What's the point of delisting Bitcoin? It equals committing suicide. Bitcoin is the number one cryptocurrency with the highest price, market cap and highest trading volume, which is significantly higher compared to any competitor and Bitcoin ETFs just got accepted too. There is simply no reason for any exchange to delist Bitcoin. Even Metamask is preparing to support native Bitcoin transactions.

Quote from: stompix on May 22, 2024, 08:39:19 AM

Popular?Lol!
The moment 9/10 of the board would have to Google to even know what those coins are it's the moment "popualr| drops from their name!
Binance drops shitcoins that have no volume every month, and they don't look for the implications it would, the low volume and interest in those pairs are why they get deleted!

There are too many coins and yes, many people have to google them but according to coinmarketcap, SEI and SUI are popular. SUI ranks N47, SEI ranks N60 on coinmarketcap.

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I don't see any impact of this on the market because this is not like some attack by government or even big news, as far as I know not everyone is familiar with those coins mentioned so for that there is no way that the dealisting of those coin will effect their motivation level and how we choose to see things, much more also the fact that binance as a centralised exchange should be task to do some deu diligence check on those coins before listing them because a good number of cryptocurrencies buyers are more interested in coins that are listed on top exchanges.

Again we have to know the level the market have reached at the moment so it almost impossible for such low key new of binance dealisting some bounce of scrap coins having effect on the community.

stompix

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Quote from: shanhaigamefi on May 22, 2024, 02:38:47 AM

popular cryptocurrencies such as SEI, SUI, and CHESS

Popular?Lol!
The moment 9/10 of the board would have to Google to even know what those coins are it's the moment "popualr| drops from their name!
Binance drops shitcoins that have no volume every month, and they don't look for the implications it would, the low volume and interest in those pairs are why they get deleted!

So in short, ZERO impact!

Quote from: Apocollapse on May 22, 2024, 04:56:48 AM

They also can delist Bitcoin, does this will affect Bitcoin? nope, we can still trade in DEX or no KYC P2P.

The moment all exchanges would delist Bitcoin would be the moment we go 10k in a flash if not way lower!
You probably don't realize the consequences of losing all CEX, it would be a harder blow than any country ban, as for DEX, look at the volume a DEX has compared to medium-sized enterprises like Bitstamp first!

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Quote from: shanhaigamefi on May 22, 2024, 02:38:47 AM

Binance has announced the delisting of several margin trading pairs involving popular cryptocurrencies such as SEI, SUI, and CHESS. What impact will this move have?

They may seem "popular" but their Margin trading pairs may not be meeting the minimum requirements such as trading volume and the liquidity. This isn't something new. They periodically list and delist pairs

Other than the price of the coins involved temporarily taking some hit, I don't see any other impact in general.

Apocollapse

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What are in your thought except SEI, SUI, and CHESS price will going down? I don't see anymore either.

After all any centralized exchanges can do what they like, today they can delist x coin, tomorrow y coin, next two days z coin, next three days they list back both x and y coins etc. They also can delist Bitcoin, does this will affect Bitcoin? nope, we can still trade in DEX or no KYC P2P.

Ojima-ojo

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As the first comment suggested you have to move the thread to service or altcoins section so the thread can gain the right audience from forum members.

Secondly I don't take the delisting of some shitcoin from exchange as something important but rather a good clean up to the already decayed altcoins market in recent time with several worthless coins getting listed by top exchanges, that have lead to many investors losing they money while investing in those coins, with the rate at which most of the hyped memecoins are losing value in short time, make no sense having them around.

Charles-Tim

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Why not post this on exchanges or altcoins board instead of Economics board.

If you come with this kind of post, it is better you include the link. https://www.binance.com/en-NG/square/post/8425272546546

Those coins has been decreasing in value since a month ago. One of the disadvantages of altcoins is this. As they can give huge ROI, they can also result to significant loss.

I do not see it has any impact. SEI and SUI are still listed on spot and future market on Binance, but only will they be removed from the margin trading pairs. You can access them on derivative market if you still want to leverage. Chess is not listed on derivative market.

Quote from: shanhaigamefi on May 22, 2024, 02:38:47 AM

What impact will this move have?

Impact on bitcoin? No impact. Impact on cryptocurrencies? I do not see any impact coming because they are just altcoins, only bitcoin and maybe coins like ether do have impact on other coins.

shanhaigamefi

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Binance has announced the delisting of several margin trading pairs involving popular cryptocurrencies such as SEI, SUI, and CHESS. What impact will this move have?

Topic: What do you think of Binance’s move? (Read 119 times)