The world’s largest cryptocurrency exchange will end support for several trading pairs across its margin and spot sections.
Many of the involved digital assets have entered red territory today (September 16), but is Binance the sole reason for their poor performance?
The Upcoming Delistings
The company conducts periodic reviews of all listed trading pairs on its platform and removes those that no longer meet key criteria, such as adequate liquidity, solid trading volume, development activity, and more.
Based on this research, it will delist the following cross-margin pairs: ENJ/USDC, GENIUS/USDC, CVX/USDC, and VANA/USDC, as well as the isolated-margin pair GENIUS/USDC.
The actual removal is scheduled for September 18. On the same day, the exchange will terminate access to the BREV/USDC, COOKIE/USDC, LA/USDC, and QNT/USDC spot trading pairs.
“The delisting of a spot trading pair does not affect the availability of the tokens on Binance Spot. Users can still trade the spot trading pair’s base and quote assets on other trading pair(s) that are available on Binance,” the entity clarified.
Most of the cryptocurrencies included in the delisting efforts have posted daily losses, yet Binance doesn’t seem to be the main culprit behind the decline. Perhaps the main factor is the overall market correction, caused by the CLARITY Act failure.
Binance remains a behemoth in the industry and can trigger a major crash, but that typically happens when it terminates all trading services for certain tokens, not just trading pairs. Such was the case in August this year when it said goodbye to Across Protocol (ACX), Hashflow (HFT), PIVX (PIVX), Vulcan Forged PYR (PYR), Vanar (VANRY), and Viction (VIC). All affected coins plunged by double digits after the news.
On the other hand, Binance support can drive a substantial price pump. Just a few weeks ago, the exchange added PONS to its Binance Alpha section, thus contributing to the token’s rally and its brief entry among the top 100 cryptocurrencies.
The Scam Warning
In addition to updating its platform, Binance recently issued a critical scam alert about phishing attacks targeting crypto investors. The team disclosed that attackers send fake text messages that seem official, such as “Your account settings were changed: or “Suspicious login detected,” to trick users into clicking malicious links that could result in painful losses.
“Remember: Binance will never ask you to tap a link in a text message to “verify” or “secure” your account,” the company emphasized.
It also outlined steps that could improve protection. People should never click on unfamiliar links, turn on Withdrawal Address Whitelist in the security settings, and enable Anti-Phishing Code.
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