CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
Crypto Potato 2024-12-11 12:48:34

Important Binance Announcement Affecting PEPE Traders: Details

TL;DR Binance announced another delisting effort, this time involving PEPE and two other altcoins. The price of the frog-themed token has plummeted daily. Its pullback could be a result of Binance’s announcement and the recent bloodbath in the meme coin sector. Removing These Pairs The world’s biggest crypto exchange periodically reviews all pairs on its platform “to protect users and maintain a high-quality trading market.” As such, it delists some due to various factors, such as poor liquidity and trading volume. Based on its latest evaluation, Binance will terminate the following spot trading pairs: PEPE/TUSD, DCR/BTC, and ZEN/ETH. The effort will come into effect on December 13. “The delisting of a spot trading pair does not affect the availability of the tokens on Binance Spot. Users can still trade the spot trading pair’s base and quote assets on other trading pair(s) that are available on Binance,” the company clarified . A delisting spree launched by a major exchange like Binance usually has a negative effect on the underlying cryptocurrencies due to reduced liquidity, reputational damage, and other reasons. The frog-themed meme coin Pepe (PEPE) , for example, is down 7% on a daily scale. DCR has dipped by 4%, while somewhat surprisingly, ZEN is up 2%. PEPE Price, Source: CoinGecko It is worth mentioning that PEPE’s poor performance could also be linked to the massive red wave that has recently passed through the entire meme coin sector. In any case, PEPE’s price crash could have been much more substantial should Binance decided to remove it entirely from its platform. Recall that the altcoins Rupiah Token (IDRT), Keep3rV1 (KP3R), Ooki Protocol (OOKI), and Unifi Protocol DAO (UNFI) collapsed by double digits in November when the firm terminated all services with them. A similar price drop was observed in February when Binance suspended trading services for Monero (XMR) and three other altcoins. The well-known privacy token experienced a decline of more than 20% soon after the news . The Opposite Effect On the other hand, when cryptocurrencies are added to Binance, their prices are often positively affected due to increased accessibility, a boost in market confidence, and other factors. In November, the firm introduced PONKE/USDT perpetual contracts, which allow up to 75x leverage. The price of the Solana-based meme coin PONKE soared by 15% minutes after the disclosure. Simon’s Cat (CAT) experienced an even more significant rally in October when Binance launched 1000CATUSDT perpetual contracts on its futures program. The post Important Binance Announcement Affecting PEPE Traders: Details appeared first on CryptoPotato .

阅读免责声明 : 此处提供的所有内容我们的网站,超链接网站,相关应用程序,论坛,博客,社交媒体帐户和其他平台(“网站”)仅供您提供一般信息,从第三方采购。 我们不对与我们的内容有任何形式的保证,包括但不限于准确性和更新性。 我们提供的内容中没有任何内容构成财务建议,法律建议或任何其他形式的建议,以满足您对任何目的的特定依赖。 任何使用或依赖我们的内容完全由您自行承担风险和自由裁量权。 在依赖它们之前,您应该进行自己的研究,审查,分析和验证我们的内容。 交易是一项高风险的活动,可能导致重大损失,因此请在做出任何决定之前咨询您的财务顾问。 我们网站上的任何内容均不构成招揽或要约