TL;DR
Binance will stop supporting pairs like ALPACA/BTC and QUICK/BTC later this week, advising users to adjust their trading bots to prevent losses.
The exchange added IO.NET (IO) to several services and introduced new contracts for Binance Futures Copy Trading.
The Upcoming Amendments
Binance continues to adjust its offerings “to protect users and maintain a high-quality trading market.” The process includes periodic reviews of all listed pairs, with some of them removed from the platform due to poor liquidity or other reasons.
Most recently, the company revealed it will halt trading services on the following ones: ALPACA/BTC, NFP/TUSD, MDX/BTC, QUICK/BTC, and XAI/BNB. The delisting effort will come into effect on June 14.
“Users are strongly advised to update and/or cancel their Spot Trading Bots prior to the cessation of Spot Trading Bots services to avoid any potential losses,” the exchange warned.
Some affected cryptocurrencies, such as NFP, MDX, and XAI, slightly dipped after the announcement. Their plunge coincides with a market correction reigning in the entire cryptocurrency sector.
It is worth noting that a more severe price decline usually occurs when a leading exchange like Binance terminates all services with a certain digital asset. Such was the case in February when the popular privacy coin Monero (XMR) collapsed by over 20% after the firm withdrew its support.
Additional Binance Updates
Besides removing some trading pairs, Binance added IO.NET (IO) to Binance Simple Earn, “Buy Crypto,” and Binance Convert. The company also included it on Binance Margin and Binance Futures, while the addition to Binance Auto-Invest is scheduled for June 13.
Last but not least, the firm introduced the following contracts: BB/USDT, ONDO/USDT, and TNSR/USDT to Binance Futures Copy Trading.
The feature is designed for traders that may lack the time or expertise to hop on the bandwagon on their own, allowing them to automatically replicate the trades of professional or experienced individuals. However, it’s important for users to conduct their own research and understand the risks involved before participating in copy trading.
The post The Following Cryptocurrencies Are Impacted by Binance’s Latest Change appeared first on CryptoPotato.
