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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Dec 24, 2024 09:01 UTC
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Binance Delists BOME, ACE, ACM and 3 More Tokens – Here’s Why
Binance is delisting several cryptocurrencies due to low trading volumes, impacting trading pairs for those assets.
The delisting has caused some price fluctuations, but the overall market reaction has been relatively muted.
Investors are adjusting their strategies and remaining cautious due to market volatility and the potential for further regulatory changes.
In the current downtrend, the market is already in fear, and with rumors of newer policies taking a backseat adjusting investment portfolio is quite a big task. Bitcoin dropped from its $100K mark creating doubts in investors’ minds.
What’s next?
Binance Delists Several Cryptos: What Does It Mean for Traders?
Binance has revealed that it will delist several well-known cryptocurrencies from its platform on December 27. The affected trading pairs are ACE/BTC, ACM/TRY, BOME/BTC, DYM/BTC, MTL/TRY, PIXEL/BNB, PIXEL/FDUSD, QKC/BTC, RAD/BTC, REZ/FDUSD, and TUSD/TRY. However, this doesn’t mean the cryptocurrencies will be completely removed; they will still be available to trade against other pairs on the platform.
The decision is part of Binance’s regular review process to improve the quality of trading. Pairs are typically delisted when they don’t meet liquidity standards or generate low trading volumes over time.
Market Reaction in Downtrend
This announcement has already led to price fluctuations for the affected cryptocurrencies, as traders quickly adjusted their positions. In the past, such news has sparked panic in the market, often leading to concerns about reduced liquidity.
Binance has also stated that it may take additional steps to manage risks if market conditions worsen. These measures could include adjusting leverage, position sizes, and funding rates to ensure stability.
What Are Investors Doing Now?
With the long-term effects of this delisting still unclear, many investors are rethinking their strategies and adjusting their portfolios. The market remains uncertain, and traders are watching closely for any further changes that could impact these assets.
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Current Price Snapshot
Here’s a look at how some of the delisted cryptocurrencies are performing:
- Fusionist ACE (ACE): Trading at $2.15, ACE has seen a 2.97% rise in the last 24 hours, with a trading volume of $10.88 million. It ranks 490th with a market cap of $90.86 million.
- AC Milan Fan Token (ACM): ACM is priced at $1.63 and has gained 3.1% both in the past 24 hours and over the past week.
- Book of Meme (BOME): At $0.006528, BOME has fallen by 18.10% in both short-term and weekly periods.
- Dymension (DYM): Trading at $1.50, DYM has increased by 5.5% in the last 24 hours.
While Binance’s delisting often leads to market disruptions, the outcome can vary. Some cryptocurrencies have gained value after being delisted, while others have experienced minor declines. This suggests that the market still sees potential in these assets, and they may regain momentum in the near future.
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