Bitcoin

Impact

IDEX

Crypto exchange giant Binance has stirred the market with its latest announcement to delist certain BTC trading pairs, causing a ripple effect in the crypto landscape. This decision, which affects tokens like C98, IDEX, FIS, MBOX, REN, and TKO, has already led to price declines ranging from 1% to 4%. What does this mean for traders and the affected coins? 
<a href="https://www.qubetics.com/?utm_source=TBJ&amp;utm_medium=postBANNER" target="_blank" rel="noopener nofollow"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-67567 aligncenter" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/Qubetics-is-728x90-1-3.jpg" alt="Binance Announces Delisting of Six Crypto Pairs: How Are Prices Reacting? = The Bit Journal" width="728" height="90" title="Binance Announces Delisting of Six Crypto Pairs: How Are Prices Reacting? 49"></a> 
<h2 id="binance-to-delist-specific-bitcoin-pairs">Binance to Delist Specific Bitcoin Pairs</h2> 
On November 20, Binance revealed its plan to remove several cross and isolated margin trading pairs from its platform. Effective November 27 at 09:00 UTC, the exchange will delist the C98/BTC and IDEX/BTC cross-margin pairs. 
Additionally, isolated margin trading pairs including C98/BTC, FIS/BTC, IDEX/BTC, MBOX/BTC, REN/BTC, and TKO/BTC will also be removed. <a href="https://thebitjournal.com/binance-unveils-61st-launchpool-project-meet-usual-usual-token/" target="_blank" rel="noopener">Binance</a> emphasized that users will no longer be able to transfer assets via manual or auto-transfer modes for these pairs, and isolated margin borrowing will end on November 21 at 09:00 UTC. 
By November 27, users must close their positions to avoid automatic liquidation as all pending orders on these pairs will be canceled. However, spot trading for these assets will remain available on Binance’s platform. 
<h2 id="price-impact-on-affected-tokens">Price Impact on Affected Tokens</h2> 
The delisting news has already dampened the market sentiment surrounding these tokens: 
<ul> 
 <li>C98 has dropped 2% in the last 24 hours, trading at $0.1459, with a daily low and high of $0.142 and $0.1518, respectively.</li> 
 <li>IDEX has decreased by 1% to $0.04033, within a daily range of $0.03915 and $0.04354.</li> 
 <li>FIS saw a 2% decline, currently at $0.3464, with a 24-hour low of $0.332 and a high of $0.3645.</li> 
 <li>MBOX recorded the sharpest drop of 4%, trading at $0.1875, with daily extremes of $0.1814 and $0.1949.</li> 
 <li>REN plunged 6%, falling to $0.04049, with lows of $0.03936 and highs of $0.04322.</li> 
 <li>TKO slid by 1%, now at $0.315, with daily fluctuations between $0.3054 and $0.3247.</li> 
</ul> 
These price declines reflect the broader uncertainty and reduced flexibility caused by Binance’s delisting decision. 
<img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-70397" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/highlighting-Binances-influence-on-the-market.-The-design-features-the-Binance-logo-prominently-in-th.webp" alt="Binance Announces Delisting of Six Crypto Pairs: How Are Prices Reacting? = The Bit Journal" width="1792" height="1024" title="Binance Announces Delisting of Six Crypto Pairs: How Are Prices Reacting? 50"> 
<h2 id="what-this-means-for-traders">What This Means for Traders</h2> 
The removal of trading pairs limits options for investors, potentially leading to further sell-offs in the affected tokens. Historically, delisting announcements have created similar price movements, as seen in Binance’s previous delisting of four tokens last month. 
For traders, these developments underscore the importance of keeping an eye on exchange announcements and adapting strategies accordingly. 
<h2 id="binance-s-influence-on-market-sentiment">Binance’s Influence on Market Sentiment</h2> 
Binance’s dominance in the crypto space makes its decisions highly influential. As reported by The Bit Journal, the delisting of these trading pairs serves as a reminder of the platform’s power to impact market dynamics. Traders and investors must remain vigilant, as such changes often lead to significant shifts in token performance and sentiment. 
<ul> 
 <li><a href="https://twitter.com/Thebitjournal_" target="_blank" rel="noopener nofollow">https://twitter.com/Thebitjournal_</a></li> 
 <li><a href="https://www.linkedin.com/company/the-bit-journal/" target="_blank" rel="noopener nofollow">https://www.linkedin.com/company/the-bit-journal/</a></li> 
 <li><a href="https://t.me/thebitjournal" target="_blank" rel="noopener nofollow">https://t.me/thebitjournal</a></li> 
</ul> 
Follow us on Twitter and LinkedIn and join our Telegram channel to be instantly informed about&nbsp;breaking&nbsp;news!

Binance Announces Delisting of Six Crypto Pairs: How Are Prices Reacting?

Table of Contents

The Bit Journal

Other articles published on Nov 20, 2024

Bounce Token Price Prediction 2025 vs 2024 Year-End Analysis and 2030 Forecast

Tom Lee Analyzes Market Potential Following Trump’s Election Success

Investors Bet on New Gains as “Unheard of” IBIT Bitcoin ETF Options Go Live

Michael Saylor to pitch Microsoft board on Bitcoin buying strategy

BIS study questions decentralization in DeFi liquidity provision

Toncoin (TON) Price Could Rally to $10: Here’s Why

Join our free newsletter for daily crypto updates!