Breaking: Binance Excludes SOL, XRP, ADA, DOGE

On Friday, Binance, the largest cryptocurrency exchange globally, announced the removal of various cryptocurrency trading pairs in GBP on Binance Spot. Binance intends to delist significant spot pairs, such as Bitcoin (BTC), Ethereum (ETH), BNB, Solana (SOL), XRP, Cardano (ADA), Chainlink (LINK), Polygon (MATIC), Litecoin (LTC), and Dogecoin (DOGE), by Dec 29.

In an official statement released on Dec 22, Binance, the cryptocurrency exchange, announced its decision to discontinue and halt trading of GBP spot pairs. However, This decision responds to increasing challenges, including regulatory burdens, intensified scrutiny, and the loss of banking partners.

At 03:00 UTC on Dec 29, Binance will eliminate ADA/GBP, BNB/GBP, BTC/GBP, DOGE/GBP, ETH/GBP, GBP/USDT, LINK/GBP, LTC/GBP, MATIC/GBP, SOL/GBP, and XRP/GBP.

In Oct, Binances ceased accepting new clients in the UK, adhering to recent FCA regulations that limit promotional activities by foreign digital asset firms within the country. Additionally, users holding GBP experienced challenges with withdrawals and deposits following the termination of Binance’s operational agreement with its banking partner in the UK.

Navigating Market Flux: The Unfazed Decline Of GBP Spot Pairs On Binance

To safeguard users and uphold a superior trading environment, Binance examines all listed spot trading pairs regularly. For various reasons, Binance has the right to delist specific spot trading pairs.

Even though there might be a slight decline in the cryptocurrency market, eliminating GBP spot pairs won’t result in a correction. Stablecoins and USD pairs account for the majority of trading volumes.

The price of BTC has remained relatively stable over the past 24 hours as investors await crucial US PCE inflation data. Currently hovering below $44,000, the decline in trading volumes has contributed to this sideways movement. During this period, BTC experienced a low of $43,387 and a high of $44,367.

The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.