Important Binance Announcement Affecting PEPE Traders: Details
Release: 2024/12/11 20:49 Reading: 216
TL;DR
Binance has announced the delisting of PEPE and two other altcoins. PEPE's price has subsequently declined, potentially due to the delisting and recent market conditions.
Binance's Delisting Efforts
Binance, the largest crypto exchange, periodically evaluates its trading pairs to maintain market quality. Consequently, it delimits certain pairs based on factors such as liquidity and trading volume. Following its recent assessment, Binance will discontinue the following spot trading pairs:
- PEPE/TUSD
- DCR/BTC
- ZEN/ETH
This action will take effect on December 13th. Binance emphasizes that the delisting does not impact the availability of these tokens on its platform. Traders can still trade them through alternative pairs.
Impact on PEPE's Price
Delistings by major exchanges can negatively impact affected cryptocurrencies. PEPE, for instance, has experienced a 7% daily price decline. While DCR has fallen by 4%, ZEN has unexpectedly gained 2%.
Additionally, PEPE's poor performance may also be attributed to the broader decline in the meme coin sector.
Opposite Effect of Listings
Conversely, the listing of cryptocurrencies on Binance often leads to price increases due to increased accessibility and market confidence. For example, the introduction of PONKE/USDT perpetual contracts resulted in a 15% surge in PONKE's price within minutes. Similarly, Simon's Cat (CAT) experienced a significant rally following the launch of 1000CATUSDT perpetual contracts on Binance Futures.
Conclusion
Binance's delisting announcement has affected PEPE's price, likely due to reduced liquidity and reputational damage. However, it is noteworthy that Binance does not delisted the token from its platform, and it is still available for trading through other pairs.
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