Binance warns traders that it will delist multiple spot trading pairs featuring tokens like ACT, ALPHA, BLUR, PENGU and others on April 11.
According to a notice posted on April 9, the crypto exchange declared that it will delist multiple spot trading pairs, with a majority of the spot trading pairs being tied to Bitcoin (BTC) and Binance Coin (BNB). Starting from April 11 at 03:00 UTC, Binance will no longer support trading for ACT/BRL, ALPHA/BTC, BLUR/BTC, CELR/BTC, PENGU/BNB, POND/BTC, and RUNE/BNB.
At the same time, the crypto exchange will also terminate spot trading bot services for the spot trading pairs mentioned in the announcement. Therefore, traders should update or cancel their spot trading bots that are linked to the pairs before the delisting date to avoid suffering potential losses.
Shortly after the announcement was published, the tokens included in the delisted spot trading pairs still saw modest gains for the most part. Pudgy Penguin’s PENGU (PENGU) saw no price movement an hour after the notice, while Act I the AI Prophecy (ACT) saw its price rise by 1.1%.
Meanwhile, THORChain’s RUNE token saw a 1.3% increase, while CELR and BLUR rose by 0.2% and 0.1%. The only token to experience a decline in value after the delisting announcement was POND, which fell 0.7%.
While the reasons behind the decision to delist each spot trading pair is not clearly stated, the exchange cited it was due to “multiple factors, such as poor liquidity and trading volume.” These factors were discovered during the internal team’s periodic reviews of the listed spot trading pairs.
The delisting announcement comes just a few days after the team behind ACT announced that it would be launching an investigation into the token’s sharp price drop on Binance. On April 1, ACT/USDT fell by nearly 50% within 30 minutes of trading on the platform.
Not only that, several other altcoin trading pairs also experienced drops ranging from 20% to 50% on Binance from April 1 to April 3.
