On December 18, Binance announced that, as part of its regular market assessments, it would delist five spot trading pairings that were not performing well. The move, the exchange stressed, is in line with its objective of preserving a top-notch trading environment for users. For the best user experience, Binance regularly assesses all listed trading pairs according to variables like market performance, trading volume, and liquidity.
HMSTR/BNB, BNT/ETH, CYBER/TUSD, AEUR/EUR, and SUI/TUSD are among the trading pairings that will be delisted. On December 20, at 03:00 UTC, the delisting will go into effect. The tokens Sui, Hamster Kombat, Bancor, Cyber, and Anchored Coins can still be traded through other pairs on the platform, according to Binance, even if these pairs will no longer be tradable.
Binance Delisting Affects Prices
Sui Faces Price Drop
The price of Sui (SUI), a token that was becoming more and more popular in the DeFi industry, has dropped by 6% to $4.49.
Source: Coinmarketcap
Hamster Kombat Losses Value
In a similar vein, the token noted for its niche appeal, Hamster Kombat (HMSTR), dropped by almost 10% to trade at $0.00298715.
Source: Coinmarketcap
Bancor Network Token Takes a Hit
The network that pioneered decentralized liquidity provision, Bancor Network (BNT), saw a 6.6% drop and is currently trading at $0.81.
CyberConnect Faces Market Challenges
The social network-based crypto CyberConnect (CYBER) fell 7.6% to $4.34. Reduced liquidity also affected AEUR, a stablecoin linked to the euro, which fueled wider market worries.
In addition to the mentioned above, on December 25, Binance confirmed that WazirX (WRX), Bluzelle (BLZ), and Kaon (AKRO) would be delisted. In light of recent evaluations, Binance has made the decision to stop trading on all spot trading pairs for these tokens on the designated day at 03:00 (UTC).
How delistings of Binance tokens operate
Trading and storing crypto assets is altered by the Binance token removal process, which initiates a series of activities.
Users could receive several alerts from Binance via email and the platform informing them of the delisting of cryptocurrencies. These notifications will urge users to take prompt action in order to protect their assets. Generally, if you have assets that need to be delisted, you have plenty of time to organize.
One to two weeks after the notification, trading in the tokens is halted. Users can still trade the asset during this period, but if trading is halted, no more trades can be made. Once the trading pair is delisted, all of your pending orders will be instantly canceled.
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Cryptocurrency trading suspension: One to two weeks after the notification, trading in the tokens is halted. Users can still trade the asset during this period, but if trading is halted, no more trades can be made.
Once the trading pair is delisted, all of your pending orders will be instantly canceled. After which you won’t get credit for any deposits you make for delisted coins.
The withdrawal window offered by Binance, which usually lasts between 30 and 90 days, enables customers to transfer the delisted token to other exchanges or external wallets. Following this time frame, Binance discontinues all support for the asset.
Following the designated period, Binance will stop handling any payments and transactions involving delisted cryptocurrencies.
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