The post Binance Delisting BOME, ACE, ACM and 3 More Tokens appeared first on Coinpedia Fintech News
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.
In such a scenario, Binance, the world’s leading cryptocurrency exchange, has announced that it will delist several high-profile cryptocurrencies from its platform. This move includes removing trading pairs involving ACE/BTC, ACM/TRY, BOME/BTC, DYM/BTC, MTL/TRY, PIXEL/BNB, PIXEL/FDUSD, QKC/BTC, RAD/BTC, REZ/FDUSD, TUSD/TRY on Dec 27. However, that doesn’t mean the complete deletion of cryptocurrencies, the deleted pairs can be traded with other trading pairs on the platform.
Binance’s decision is part of the company’s planned review process to improve trading quality on its platform. The deleting process takes place when the assets fail to generate adequate liquidity and constantly give low trading volumes.
Market Reaction in Downtrend
The news has caused notable reactions in the crypto community and financial markets. Affected cryptocurrencies experienced price fluctuations as traders quickly adjusted their positions following Binance’s announcement. However, historically such announcements create a market panic with a fear of an increase in liquidity.
In response to the delisting, Binance has stated that it may take additional measures to manage risk if market conditions worsen, including adjusting leverage, position sizes, and funding rates.
At this point, the investors are unsure how this will affect the market in the long run and are adjusting their strategies.
Current Price Snapshot
Fusionist ACE: The current Fusionist price is $2.15, with a 24-hour trading volume of $10.88 million. It has risen by 2.97% in the last 24 hours and ranks 490 with a market cap of $90.86 million.
AC Milan Fan Token (ACM): Trading at $1.63, demonstrating notable gains of 3.1% both daily and weekly.
BOOK OF MEME (BOME): Priced at $0.006528, facing declines of -18.10% in both short-term and weekly timeframes.
Dymension (DYM): At $1.50, showing a slight daily increase of 5.5%.
While the deleting usually caused market disruptions here many coins gained after delisting from Binance while some saw a minor decline. This shows that the market is hopeful of their potential and may soon gain momentum.
