The world’s largest cryptocurrency exchange, Binance, is running another crypto delisting spree, with a popular doggy-themed meme coin, Shiba Inu (SHIB)among the dead. The listing will see several trading pairs including the Shiba Inu successfully delisted from trading this month.
Binance Delist SHIB/TUSD Trading Pair
In a blog post on June 26, Binance announced its plans to remove several trading pairs, effective immediately on June 28, 2024. The crypto exchange disclosed that it will delist SHIB/TUSD and terminate the services of spot bots bots for this pair.
Binance advised users to update or cancel their SHIB/TUSD spot trading bots before their termination to avoid potential losses. The exchange stated that its plans to remove the SHIB/TUSD trading pairs will not affect the availability of Shiba Inu token on Binance Spot Exchange.
Binance it also disclosed that users will still be able to perform transactions using standard tokens and continue to trade on the basis of trading pairs. Additionally, quoting assets on other trading pairs available on Binance will also continue to be exchanged.
Including the SHIB/TUSD spot trading pairs, Binance has revealed plans to remove several other crypto pairs including BLUR/FDUSD, LINK/TUSD, MEME/ETH, METIS/FDUSD, NFP/BNB, and OSMO/BTC. The exchange explained several reasons for removing these spot trading pairs on its blog.
According to the blog, SHIB/TUSD and other spot trading pairs will be removed from Binance due to financial inefficiency and low performance. trading volume. The exchange said removing low-quality spot trading pairs was essential to protect users and maintain a high-quality trading market, ensuring the stability and stability of the platform.
Binance often does periodic releases processes after conducting a deep review of all the pairs listed for trading on its platform. Last year, the exchange released the SHIB/BUSD margin pair to stop full support for BUSD stablecoin.
The data from Binance also disclosed that the spot trading pair SHIB/TUSD is currently valued at $0.00001719, representing a 1.72% decrease in the last 24 hours.
Shiba Inu Price Continues Downward Spiral
I The price of Shiba Inu has dropped significantly significantly, which may sign i the end of the bullish rally for the meme coin. Data from CoinMarketCap revealed that Shiba Inu is down about 33.06% in the past month.
The popular doggy-themed cryptocurrency is still here to witness further decline, recording a decrease of 2.39% in the last 24 hours. This high rate of decline also greatly affected the sentiment of investors and the demand for meme money, such as Shiba Inu saw a 36.31% drop in its 24-hour trading volume. The cryptocurrency is currently trading at $0.000017, miles away from its record high of over $0.000044 earlier this year.
The featured image was created with Dall.E, a chart from Tradingview.com
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