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Binance Delists BNB/UAH and ETH/UAH: Impact on Ukrainian Traders

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by Giorgi Kostiuk

a year ago

Binance announced the removal of the BNB/UAH and ETH/UAH trading pairs, which might affect the strategies of Ukrainian traders.

The Upcoming Amendment

The world's largest crypto exchange Binance conducts periodic reviews of its service to protect users and maintain a high-quality trading market. The exchange recently announced that BNB/UAH and ETH/UAH will become unavailable from February 28. Users are advised to update and/or cancel the corresponding Spot Trading Bots to avoid potential losses.

Impact on Ukrainian Users

Removing the aforementioned pairs will impact local users by limiting direct trading between Binance Coin (BNB), Ethereum (ETH), and the Ukrainian hryvnia (UAH). Ukrainian traders will need to adjust their strategies, possibly involving additional conversion steps, which could lead to increased trading fees and exposure to market fluctuations.

The Reverse Effort

Contrary to the delisting of pairs, the company added Sonic (S) and Test (TEST) as new loanable assets. Sonic was included in the Binance Loans section, while Test was added to the VIP Loan program. The prices of related cryptocurrencies reacted positively to the announcement. S is up 5% for the day, whereas TEST has soared by 10%.

The removal of BNB/UAH and ETH/UAH trading pairs may affect Ukrainian users, while the addition of Sonic and Test provides new opportunities.

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