Binance to Delist Key BTC, ETH, & BNB Pairs on October 11

Binance is set to delist critical BTC, ETH, and BNB trading pairs on October 11, igniting price crash speculations across the crypto market.

Binance, the world's largest cryptocurrency exchange by trading volume, will be delisting four critical trading pairs on October 11, sparking speculations of a potential price crash across the crypto market. Investors are bracing for increased market volatility as the delisting deadline approaches.

Binance to Delist Key BTC, ETH, & BNB Pairs on October 11

According to a recent announcement by Binance, four trading pairs will be delisted from the exchange platform. The pairs set to be removed include APE/ETH, ATOM/BNB, BAL/BTC, and BNB/DAI. The cryptocurrency exchange makes these decisions after announcing them.

Market Fears Escalate as Delisting Nears

The company also stated that they routinely evaluate spot trading pairings, taking into account liquidity, trading volume, and other factors. The delisting is scheduled to take place at 3:00 UTC on October 11, 2024.

This action is being taken by the exchange as part of their ongoing effort to provide users with the greatest possible trading experience, according to the statement. It was also mentioned in the document that the delisting of these pairs will have no bearing on the individual tokens' availability.

In other words, users will still be able to trade base and quote assets on the platform by utilizing other trading pairs.

Users of Spot Trading Bots Are Being Cautioned

The exchange specifically advised its Spot Trading Bot users to either modify or cancel their bots for the relevant pairs in order to prevent any potential losses once trading ceases, as Coingape explains.

Speculation Arises as Anticipation Builds for Price Volatility

When Binance announces delistings, the market normally has varied reactions. Announcements like these from major cryptocurrency exchanges frequently influence investor sentiment.

For instance, while delisting decisions may introduce some uncertainty, favorable news typically boosts market optimism.

However, traders may interpret the delisting as a sign of lower interest or liquidity in the impacted pairs. As a result, these tokens may experience short-term price drops, sparking concerns of a broader crash.

Despite Fears, No Guarantee of a Price Crash

The possibility of a price crash is not, however, guaranteed by the delisting of spot trading pairs. Despite the possibility, investors may occasionally disregard such notifications because the exchange still provides other pairings for these cryptocurrencies.

Present Price Movements for APE, ATOM, BAL, and BNB

The current price of APE is $0.74, showing a minimal 0.55% rise, while its trading volume has decreased by 5% to reach $50.44 million. On the other hand, ATOM's trading volume decreased around 30% to $78.81 million, and the price decreased marginally by around 0.5% to reach $4.35.

BAL's price, meanwhile, reached a 24-hour high of $1.96 and was trading almost flat at $1.94. The price of BNB increased marginally by about 2% to reach $582.37, and its trading volume increased significantly by nearly 30% to reach $2.29 billion.