Binance Delists GALA/BNB and PERP/BTC Trading Pairs from Its Spot Market

The exchange clarified that the removal of these specific spot trading pairs will not impact the overall availability of the GALA and PERP tokens on the Binance spot market.

Binance is set to delist the GALA/BNB and PERP/BTC trading pairs from its spot trading platform.

Binance Is Delisting Two Trading Pairs

According to a blog post by the crypto exchange, the removal of these specific spot trading pairs will not affect the overall availability of the GALA and PERP tokens on the Binance spot market.

Instead, Binance users will still be able to trade the base and quote assets of these pairs through other trading options offered by the exchange.

However, Binance will be terminating any spot trading bots that are currently linked to the trading pairs slated for delisting. The exchange is advising users who have active bots to adjust their trading strategies accordingly to avoid any potential losses that might occur when the pairs are officially removed.

Why Is Binance Removing These Trading Pairs?

It is noteworthy that Binance regularly undertakes a process of reviewing the various cryptocurrency tokens listed on its platform to ensure they continue to meet the exchange’s stringent requirements and standards.

On that basis, Binance considers tokens that fail to meet criteria such as sufficient trading volume, required development progress, standard regulatory requirements, and fulfilling other Binance-specific conditions to be due for delisting.

These tokens are then typically slated for removal from the exchange's listing.

In the present case, although Binance did not specify the precise reasons for delisting the GALA/BNB and PERP/BTC pairs, the exchange did mention its overarching intention to protect its users and maintain a robust and high-quality trading market for all participants.

This overarching goal guides the exchange's decision-making process, which includes making the difficult choice to delist specific tokens or trading pairs when necessary.

How Might This Delisting Affect GALA and PERP Prices?

Generally, delisting a crypto token or trading pair from Binance or any other top crypto exchange negatively impacts the cryptocurrency’s value. It usually affects users' sentiments, altering their confidence in the affected digital assets.

Hence, the growing expectation among crypto community members is that both GALA and PERP could experience a downturn.

However, that has not been the case, as both cryptocurrencies have maintained their slight upward momentum, even though they are currently trading at low volumes, which likely contributed to Binance's decision to delist these specific trading pairs.

On the other hand, the GALA/BNB pair saw a brief rally to $0.00003, reaching a session high before pulling back slightly. Meanwhile, PERP has remained at a relatively stable price level of around $0.00000449.

Both cryptocurrencies are trading at low volumes, which might be a factor in Binance's decision to delist these specific trading pairs.

The pairs are scheduled to be delisted in the next 48 hours.