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Binance recently announced its decision to remove Polygon (MATIC), Avalanche (AVAX) and Voxies (VOXEL) trading pairs from its platform. Effective July 26, Binance will delist AVAX/TUSD, MATIC/TUSD and VOXEL/BTC trading pairs, as part of its periodic review to maintain a high-quality trading market.
Note to Binance users
Once the pairs are removed from Binance, users will be unable to trade them directly on the exchange. Therefore, start planning to take necessary actions if you hold any of the aforementioned token pairs.
Gamza KhanzadaevHowever, note that the availability of the tokens on Binance Spot is unaffected, and users can trade them on other available pairs within the exchange. As a precautionary measure, Binance urged users to cancel any spot trading bot services connected to these pairs by July 26.
The recent announcement comes shortly after Binance unveiled the delisting of BarnBridge (BOND), Dock (DOCK), Mdex (MDX) and Polkaster (POLS) trading pairs. The exchange cited factors such as poor liquidity, network security and trading volumes as reasons for periodically delisting digital assets. Fundamentally, these factors affect the overall health of various digital assets and projects in the ecosystem.
Thus, Binance aims to uphold strict standards for cryptocurrencies listed on its platform, while giving users the best services and protection.
Impact of delisting on investors
Some investors on Binance exchange have experienced slight losses in their investments in MATIC, AVAX and VOXEL.
Tomiwabold OlajideThis is a result of the declining prices of the tokens following the delisting announcement. For instance, AVAX, the native token of Avalanche blockchain, declined by 1.2% in the past day to trade at $30.15. Similarly, MATIC, Polygon’s digital asset, is currently trading at $0.5367, after a 24-hour price drop of 2.22%.
Furthermore, VOXEL experienced a 24-hour decline of 8.3%, setting its price at $0.1508. The drop in prices demonstrates traders’ laid-back approach to accumulating these tokens.
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