Binance Announces Key Delistings

On June 26, Binance, the world's largest cryptocurrency exchange, intended to delist and cease spot trading pairs for several prominent cryptocurrencies.

This decision affects Shiba Inu (SHIB), Chainlink (LINK), Blur, Memecoin (MEME), Metis, NFPrompt (NFP), and Osmosis (OSMO). The delisting will come into effect on June 28 at 03:00 UTC.

The exchange primarily targets TUSD pairs for Shiba Inu and Chainlink, specifically SHIB/TUSD and LINK/TUSD. These pairs have experienced dwindling trading volumes as Binance reduces support for the TUSD stablecoin, citing various issues. Other high-volume trading pairs involving USDT, TRY, and FDUSD will remain available despite this.

In addition to these adjustments, Binance will delist other trading pairs: BLUR/FDUSD, MEME/ETH, METIS/FDUSD, NFP/BNB, and OSMO/BTC. This move is part of Binance's regular reviews to ensure a high-quality trading environment.

According to Binance, pairs are selected for delisting due to poor liquidity and low trading volume. "To protect users and maintain a high-quality trading market, Binance conducts periodic reviews of all listed spot trading pairs," the exchange stated.

It added, "The exchange delisted selected spot trading pairs due to multiple factors, such as poor liquidity and trading volume."

Impact on Trading Bots

Additionally, Binance announced that Spot Trading Bots services for the affected pairs would cease immediately after the delisting. This could have implications for traders who rely on automated trading strategies.

"Binance has a 48% market share in the global crypto market, and delisting announcements impacted crypto price movements historically."

Market Reactions: Shiba Inu and Chainlink

Following the announcement, Shiba Inu and Chainlink prices showed immediate reactions. SHIB's price experienced a 3% jump in the past 24 hours but later pared some gains.

Currently, SHIB is trading at $0.00001755, with a 24-hour low and high of $0.0000171 and $0.00001818, respectively. The trading volume for SHIB has dropped by 8% in the last 24 hours.

Chainlink also saw a 1% increase in price before paring gains. LINK is now trading near $14.10, with a 24-hour high of $14.27. Its trading volume has decreased by 46% in the last 24 hours.

Meanwhile, Memecoin (MEME) is trading at $0.01997, reflecting a 1.43% increase in the last 24 hours. The trading volumes for MEME have also dropped during this period.

External Factors

Traders will likely remain cautious as additional market factors come into play, including the upcoming PCE inflation data and monthly options expiry scheduled for Friday. These elements could further influence market dynamics in the coming days.