Cryptocurrency exchange Binance announced the removal of certain BTC pairs, leading to a significant decline in the prices of affected cryptocurrencies.
What Trading Pairs Will Be Affected?
On November 20, Binance disclosed plans to eliminate certain cross-margin trading pairs, including C98/BTC and IDEX/BTC, effective from November 27 at 06:00 UTC. Isolated margin pairs like C98/BTC, FIS/BTC, IDEX/BTC, MBOX/BTC, REN/BTC, and TKO/BTC will also be removed.
How Are Prices Reacting to Changes?
The decision resulted in immediate price drops for several cryptocurrencies. C98 experienced a 2% decrease to $0.1459, while IDEX fell by 1% to $0.04033. Other cryptocurrencies like FIS, MBOX, REN, and TKO also saw declines ranging from 1% to 6%.
Traders' Reaction to Strategic Changes
Market participants have expressed frustration over Binance's recurrent removal of trading pairs, disrupting their trading plans and potentially signaling further volatility.
The recent changes underscore the need for traders to stay alert to Binance's actions, as these decisions continue to shape market dynamics and influence trading strategies.
