Binance and the Delisting of IOTA and ANKR against BNB
Binance has announced that it will delist certain trading pairs, including IOTA/BNB and ANKR/BNB, starting from September 1st. Users are urged to take action on these assets before the delisting takes place.
Key Points:
– Binance will remove and cease trading for several pairs, including ANKR/BNB, CVC/BUSD, EPX/BUSD, HIVE/BUSD, IOTA/BNB, KLAY/BUSD, LRC/BNB, MBL/BUSD, MTL/ETH, and UMA/BUSD.
– The delisting may be due to Binance’s declining support for Paxos’ stablecoin, Binance USD (BUSD).
– Users are advised to update or delete their Spot Trading Bots to avoid potential losses.
– Despite the removal of these pairs, users can still trade on other pairs available on Binance.
Binance and the Delisting of IOTA and ANKR: Price Progression
The announcement of the delisting has had an impact on the price of IOTA and ANKR in the last 24 hours.
Key Points:
– ANKR has experienced a -3.50% price drop and a -37.51% decrease in transaction volume.
– IOTA has seen a +1.25% price increase but a -54% drop in transaction volume.
– Both assets had a price increase on August 29th but have since shown different trends compared to Bitcoin (BTC).
The Breakdown of Support for BUSD by 2024
The delisting of trading pairs involving BUSD is part of Binance’s decision to discontinue its support for the stablecoin by 2024.
Key Points:
– Binance’s decision is influenced by legal pressure from the US Securities and Exchange Commission (SEC).
– The SEC has charged Paxos Trust Company for issuing and offering BUSD as an unregistered security.
– Paxos has stopped creating new BUSD tokens, adding uncertainty to the future of the stablecoin.
– BUSD’s market capitalization has recently experienced a decline.
Hot Take
Binance’s delisting of IOTA and ANKR, along with other trading pairs, highlights the platform’s decision to discontinue support for certain assets. This move is likely influenced by regulatory pressures and the uncertain future of stablecoins like BUSD. The price movements of the delisted assets and the overall market trends suggest the need for users to stay updated and adapt their trading strategies accordingly.
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