Why Binance exchange delisting the crytop currencies and the sport trade pairs - page 3.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

if you go to each of those markets on Binance or even on Coinmarketcap you can see that these coins don't have enough volume to be considered profitable from the exchange's point of view.
for example if you change the time steps in the https://coinmarketcap.com/currencies/bitshares/ page to 1 month you can see that excluding the recent dump of BTS, it was pretty much a dead market with little to no volume. and the recent dump is obviously caused by this news and people are panic selling this shitcoin to get rid of it prior to the delisting.

sunsilk

hero member

Activity: 3038

Merit: 634

I believe this thread should be on Service Discussion than Speculation. Yeah, we're speculating but this section is all about speculations for Bitcoin and not for what happened to certain exchange and why it has to delist some pairs.

These delistings are pretty common for exchanges especially Binance and they've got standards and reasons for doing so.

Maybe this article will give some light why they had to do it: Binance Will Delist BTS, PERL, TORN, WTC on 2023-12-07

pawel7777

legendary

Activity: 2436

Merit: 1561

Quote from: EluguHcman on November 28, 2023, 10:45:19 AM

What I don't understand is that why are they taking this actions at this time even as they faces this high level of criminal case which was to tanish their reputation?

As others said, this is probably unrelated, and I'd be guessing this is just a routine procedure of cleaning up the site from low-volume pairs. Have they only removed certain pairs or stopped supporting the listed altcoins?
Nevertheless, I'd imagine they would notify users somehow before that happened, either by making an announcement somewhere on their site or by sending emails (to those subscribed).

Speaking about the recent events and the settlement penalty - I don't think people comprehend how huge amount that is. They'll be paying penalties exceeding $4 billion, which is the highest in history. There must be some panic and disruptions going on in their operations, which could have some effect on their customers eventually, but I wish them all the best.

Baofeng

legendary

Activity: 2576

Merit: 1655

If I'm not mistaken, coins are being delisted not just by Binance but any other crypto exchange is the coin is not that active, i.e low trade volumes or the people behind just forget about that project, thus becoming inactive.

This is the link for their official announcement as to what coins are to be delisted:

https://www.binance.com/en/support/announcement/binance-will-delist-bts-perl-torn-wtc-on-2023-12-07-d24dd4a035c443b1ad8cf49f60b9d194

And with that, you can convert your coins that is in the list to stable coins to be able to still make money out of it and get your investments back whether you are in a +/- profit.

kentrolla

hero member

Activity: 1652

Merit: 569

Catalog Websites

Binance usually keeps delisting those coins and pair which don't meet certain criteria, I have seen Binance delisting coins when they are heavily manipulated like it did with a coin named Nebilo where the price of coin were heavily manipulated as Binance cannot afford to lose out on its reputation by having projects listed in it's exchange which are very volatile and it's prices being controlled hence they removed Nebilo and I guess same logic applies to some of these coins .

Aanuoluwatofunmi

sr. member

Activity: 672

Merit: 416

stead.builders

I addition to what you have said, i think there was an announcement made already concerning their actions before they started it, do some were well aware that some certain coins will be delisted, what we should make sure we do is to investigate well in any cryptocurrency we are going for and make our research properly before choosing anyone, then after investing, we should take our asset off the exchange to a personal wallet which is a non custodial wallet, in doing this, we are free from any form of dramas that may be happening.

Yogee

sr. member

Activity: 1554

Merit: 413

I doubt the delisting has anything to do with the cases they recently agreed to settle or any regulatory issues. They have a set of criteria before coins or tokens are to be delisted and they've listed it in their announcement https://www.binance.com/en/support/announcement/binance-will-delist-bts-perl-torn-wtc-on-2023-12-07-d24dd4a035c443b1ad8cf49f60b9d194

I don't know anything about these coins and tokens but the major factor is probably trade volume and further project development.

EluguHcman

sr. member

Activity: 504

Merit: 254

Can someone who is more technical tell about what is going on with Binance the cryptocurrencies exchange?
Just as they were faced with some criminal issues, they have been taking whole lot of elimination actions of delisting over ten sport trades in their marketplaces as at last week with undefined relatable reasons.
Now they are set to delisot BTS/USDT, WTC/BTC, PERL/USDT, WTC/USDT and others out of their marketplaces by the Dec-7th-2023 with the reasons that it is a caused of the digital currencies being unable to meet up with its tasks and poor level of operations.

What I don't understand is that why are they taking this actions at this time even as they faces this high level of criminal case which was to tanish their reputation?

Is there something technical that is not Worth publicly exposed/expressed?

Why don't they feel the guilt of losing the affiliated clients that was to profit them as they delisted them above?

Are they just realizing the inabilities, insecured and the poor possessions of the delisted industry just of recent? Or they have been on track before these days?

I am curious to understand this because I leans my Bitcoins to the Binance crytop currency exchange.
https://cryptopotato.com/important-binance-will-delist-the-following-cryptocurrencies-on-december-7th/

Topic: Why Binance exchange delisting the crytop currencies and the sport trade pairs - page 3. (Read 343 times)