Binance Update Regarding Bitcoin (BTC) and Ethereum (ETH) Traders: Details

TL;DR

• Binance will stop trading six pairs, including BTC/AEUR and ETH/AEUR, starting July 5, likely due to low liquidity or other factors.
• Despite removing some pairs, the company has added new ones like WIF/BRL and ZK/USDC, although these are not available to users in some restricted regions.

Binance’s Latest Initiative

Binance, the world’s largest cryptocurrency exchange, is going end trading services for the following six pairs: BTC/AEUR, ETH/AEUR, AI/TUSD, CHR/BNB, GAS/FDUSD and LQTY/FDUSD. The changes will take effect on July 5.

The company did not provide an exact reason for the delisting, saying it periodically reviews all listed spot trading pairs and removes some in the event of low liquidity or other factors.

The majority of the cryptocurrencies concerned are today (July 3) in the red. Their poor performance coincides with the general decline of the sector. According to data from CoinGecko, the global market capitalization of cryptocurrencies currently stands at around $2.35 trillion, a drop of 3.5% compared to the figure observed the day before.

Like CryptoPotato reportedBitcoin (BTC) price has returned towards the $60,000 mark, while Ethereum (ETH) has dropped to around $3,300.

Unlike shutting down services for some existing trading pairs, Binance has recently included some new features on its platform. WIF/BRL, ZK/USDC and ZRO/USDC have been added to Binance Spot. It should be noted that the service is not available to all customers:

“Currently, users residing in the following countries or regions will not be able to trade the above-mentioned spot currency pairs: Canada, Cuba, Crimea region, Iran, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, Northern Mariana Islands, U.S. Virgin Islands), and any areas not controlled by the government of Ukraine.”

Previous Binance Announcements

The exchange has implemented many similar changes since the beginning of the year. Last month, it ceased trading services with the following pairs: ALPACA/BTC, NFP/TUSD, MDX/BTC, QUICK/BTC and XAI/BNB.

A few months ago, Binance had stopped all operations involving Monero (XMR). This decision was made follow up by a collapse in the price of the popular privacy currency.

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