- Binance announced it will delist GALA/BNB and PERP/BTC trading pairs.
- The delisting is part of Binance’s periodic review and adjustments.
- GALA and PERP prices remain adamant after the delisting announcement.
Binance has announced its decision to delist the GALA/BNB and PERP/BTC trading pairs from its spot trading platform. In their blog post, 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.
According to the announcement, Binance users will still be able to trade the base and quote assets of these pairs through other trading options available on the platform. However, Binance also stated that it 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 worth noting that Binance regularly reviews 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 like sufficient trading volume, required development progress, standard regulatory requirements, and fulfilling other Binance-specific conditions. These tokens are then typically considered due for delisting.
In the meantime, the crypto exchange did not specify the reasons for delisting the GALA/BNB and PERP/BTC pairs. However, the exchange did emphasize its overarching intention to protect its users and maintain a robust and high-quality trading market for all participants.
Related: ORN’s Price Declines Following Binance Delisting Update
How Might This Delisting Affect GALA and PERP Prices?
Historically, 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 of crypto community members is that GALA and PERP could experience a downturn.
However, that has not been the case, as both cryptocurrencies have maintained their slight upward momentum.
Related: DREP, MOB, PNT Dump Hard by Over 56% Amid Binance Delisting
The GALA/BNB pair even saw a brief rally to $0.00003, reaching a session high before slightly pulling back. PERP, on the other hand, has maintained a relatively steady price level around $0.00000449. Despite this initial resilience, both cryptocurrencies are currently trading at low volumes, which likely contributed to Binance’s decision to delist these specific trading pairs.
Cryptocurrency users and traders are now closely watching to see how these trading pairs will behave in the next 48 hours, which is when Binance is scheduled to implement its plan and officially remove GALA/BNB and PERP/BTC from its spot trading platform.
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