Binance, the world’s largest crypto exchange, announced today they will be removing several coins from BTC pairs. This includes QTUM and Venus (XVS) from BTC margin pairs and Contentos (COS) and Frax (FXS) from BTC spot pairs. Despite the delisting QTUM and XVS are up 8% and 7.5% respectively as post election momentum surges after Trump wins.
Binance’s Delisting Strategy: Key Dates and Changes for Traders
In their latest announcement Binance stated they will be suspending margin trading for QTUM/BTC and XVS/BTC to simplify their offerings and improve the platform. As part of this change isolated margin borrowing for these pairs will end on November 7th at 06:00 UTC and the margin pairs will be delisted on November 14th at 06:00 UTC.
To avoid losses Binance advises traders to close their QTUM and XVS margin positions and transfer any holdings from their Margin Wallets to Spot Wallets before the deadline. Positions that remain open by the delisting date will be auto closed and all associated orders will be cancelled.
Key details:
- Delisting Schedule:
- QTUM/BTC and XVS/BTC margin pairs: November 14 at 06:00 UTC
- COS/BTC and FXS/BTC spot pairs: November 8 at 03:00 UTC
- User Advisory: Close positions early to avoid potential losses and transfer assets to Spot Wallets.
Although QTUM and XVS are being removed from BTC margin trading, both assets will still be available on Binance in other non-margin pairs, allowing traders to continue trading them through other options on the platform.
Price Action and Volume Spikes as Market Reacts to Delisting News
Delisting announcements often kill the buzz but QTUM and XVS are up as post election momentum surges. Investor sentiment has shifted positive with Trump’s win and demand is up for these coins even as they are being removed from BTC pairs.
As of latest data:
- QTUM is at $2.32 with a daily low of $2.13 and high of $2.32. $31 million in trading volume in the last 24 hours and a market cap of around $244.5 million. Down 3% for the week and 5% for the month.
- XVS is also up, at $6.70 with a daily low of $6.19. $2.82 million in trading volume in the last 24 hours.
- COS and FXS are also up, COS at $0.0066 and FXS at $1.818. Both are up today despite being delisted from BTC pairs.
Binance’s Approach to Quality Control in Crypto Trading
Binance’s delisting of certain BTC pairs is part of their ongoing effort to simplify their offerings and ensure liquidity for assets on the platform. These decisions are made based on regular reviews and often focus on trading volume and liquidity. For COS and FXS low liquidity and trading volume was the reason for delisting from BTC spot pairs.
These delistings will cause some disruption but are part of Binance’s effort to maintain a good trading environment. In the wild world of crypto, these kind of adjustments are common to help exchanges adapt to market changes and perform at their best.
As Binance moves forward, this delisting might prompt some to diversify or switch to other pairs. For those holding QTUM, XVS, COS, FXS, this delisting is a reminder to choose your platform and market wisely.
Key Takeaways:
- QTUM and XVS Margin Trading to End: Binance to delist QTUM and XVS BTC margin pairs on November 14.
- COS and FXS Spot Pairs Removed: Binance to stop COS and FXS BTC spot trading on November 8.
- Post-Election Rally: QTUM and XVS saw price boosts despite delisting news, driven by optimistic market sentiment.
Binance’s delisting is a reminder that crypto markets are always changing and we must be agile.
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