Binance, the world’s largest cryptocurrency exchange, has recently moved strategically to maintain its status as a top-tier trading platform. The exchange announced its plans to delist multiple trading pairs on December 27, 2024. Binance noted that delisting is necessary to streamline its services and provide better trading opportunities.
Binance Streamlines Trading: What it Means For Traders
The delisting affects pairs with low trading activity or liquidity, which Binance considers less beneficial to its users. Among the trading pairs to be removed are AACE/BTC, ACM/TRY, BOME/BTC, and DYM/BTC.
Others include MTL/TRY, PIXEL/BNB, PIXEL/FDUSD, QKC/BTC, and RAD/BTC. REZ/FDUSD and TUSD/TRY will also be phased out. Despite the removal, Binance assures users that the underlying tokens will still be tradable through alternative pairs available on the platform.
However, Binance has advised users leveraging trading bots to take immediate action. Bots associated with these pairs must be disabled before the scheduled delisting to avoid disruptions or potential losses.
Additionally, the platform encourages users to familiarize themselves with its delisting guidelines. This will better help traders understand the implications and processes of such changes.
This decision stems from Binance’s regular evaluation of trading pairs to maintain a high-quality trading platform. Pairs with low activity or liquidity tend to be removed to improve the platform’s market efficiency. The platform sees delisting as essential for better trading opportunities.
Binance Boosts Transparency with Enhanced Metrics
Binance’s strategy of delisting is not unique to this event. In 2023, it removed pairs like AAVE/BNB and YFI/BTC due to low liquidity. This approach is shared by other exchanges like Coinbase and Kraken, which also delist underperforming tokens to ensure secure and user-friendly platforms.
To boost transparency, Binance is adding two new metrics from CoinMarketCap. These include Unlocked Market Capitalization (UMC) and Unlocked Circulating Supply (UCS). These will help clarify token data and insider allocations. This move aligns with Binance’s goal to better serve users with clear data and improved functionality.
2024 is A Record-Breaking Year for Binance
Despite the challenges of managing a massive platform, Binance continues to grow. In 2024, the exchange added 70 million new users, pushing its global user base to over 240 million. This year, Binance’s security measures successfully stopped $4.2 billion in potential scams and fraud.
This protection helped shield 2.8 million users from financial losses. Binance’s growth was driven by enhanced compliance efforts, including securing 20 regulatory licenses globally. The exchange also boosted its compliance team by 34% to strengthen its commitment to regulatory standards.
This highlights its dedication to creating a safer, more transparent, accessible crypto platform.
