Binance has announced the upcoming removal of three trading pairs on August 15, 2023, and introduced new high-leverage financial products.
Removal of Trading Pairs
Binance conducts periodic reviews of all its listed spot trading pairs and sometimes removes them due to low liquidity and trading volume. The recent removal will affect the pairs ANIME/FDUSD, HYPER/FDUSD, and STO/BNB, effective August 15, 2023.
Impact on Cryptocurrencies
Typically, such decisions negatively impact the prices of affected cryptocurrencies. However, following the announcement, ANIME's price surged by 16%, while HYPER and STO saw more modest increases. This occurred alongside a broader rise in the prices of many altcoins, including Ethereum and Solana.
New Contracts and Promotions
In addition to the removal of trading pairs, Binance also announced the launch of new perpetual contracts AIO/USDT and XNY/USDT with leverage of up to 50x. These contracts allow users to profit from price fluctuations without actual ownership of the cryptocurrencies. Earlier this month, the company launched a zero-fee trading promotion for certain pairs.
Thus, the announced changes in trading pairs and new offerings from Binance may influence the market and cryptocurrency prices, and users are advised to stay informed about developments on the platform.
