Binance Removes AVAX and VOXEL Pairs in Major System Purge

Bittime - Binance, a leading cryptocurrency exchange, recently announced the removal of Avalanche (AVAX), Polygon (MATIC), and Voxies (VOXEL) trading pairs from their platform. This step was taken after regular evaluations that assess trading pairs' compliance with Binance's liquidity and trading volume standards.

AVAX/TUSD, MATIC/TUSD, and VOXEL/BTC Trading Pairs Deletion Date and Process

The process of delisting AVAX/TUSD, MATIC/TUSD, and VOXEL/BTC trading pairs will begin on July 26, 2024 at 03:00 UTC. Additionally, spot trading bot services for this pair will also be discontinued. Users are expected to update or cancel their trading bots to avoid potential losses.

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Impact on AVAX and VOXEL Token Value

The removal of these trading pairs impacts the market value of the associated tokens. At the time of writing, AVAX was trading at $30.36 with a decline of 0.63% in the last 24 hours. MATIC traded at $0.5375 after dropping 2.36%, and VOXEL was at $0.1513 with a decline of 8.75%.

Similar Steps from OKX: Elimination of Major Trading Pairs

Binance's announcement comes not long after OKEx announced similar plans to remove some Bitcoin (BTC), Ethereum (ETH), and XRP trading pairs from its platform. OKEx will delist pairs such as LTC-ETH and MATIC-BTC between July 25 and August 2, 2024, in a gradual process.

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Reasons Behind Binance Trading Pairs Deletion

Binance frequently removes trading pairs that do not meet functionality standards. For example, on July 22, Binance removed the MDX/USDT pair from its platform, although MDX prices subsequently increased. These deletions are done to reduce risk and increase market stability by retaining only trading pairs that meet certain criteria.

Impact and Next Steps for Binance Users

In other cases, Binance has also delisted trading pairs such as OMG Network (OMG) and NEM (XEM) in June. Users have until September 17 to withdraw their tokens from the platform if they do not meet the requirements. This removal is designed to ensure the security and integrity of the platform by selectively managing tradable assets.

Binance Delisting Goal: Managing Risk and Market Stability

The main purpose of Binance's delisting mechanism is to manage risk and ensure market stability. By routinely assessing and managing tradable assets, Binance strives to create a safer and more stable environment for its users.

With this information, users can better understand the changes taking place and adjust their trading strategies according to new market conditions. The removal of this trading pair highlights Binance's efforts to maintain the quality and security of their cryptocurrency trading platform.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

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