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Shiba Inu (SHIB) Trading Pair Delisted by Binance.US: Details

Thu, 03/23/2023 - 11:28
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Tomiwabold Olajide
Binance.US to cease trading for Shiba Inu (SHIB) pair
Shiba Inu (SHIB) Trading Pair Delisted by Binance.US: Details
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Binance.US, the subsidiary of top crypto exchange Binance, has announced it will be removing some advanced trading pairs. Citing low trading activity, Binance will delist some Binance USD (BUSD) trading pairs, including SHIB/BUSD pair.

"Based on recent trading activity, Binance.US will remove and cease trading for the following advanced trading pairs on March 29, 2023, at 8 p.m. PDT/11 p.m. EDT," the exchange said in an official blog post.

Cardano (ADA), EOS, LPT, Decentraland (MANA), NEAR, OMG, Solana (SOL), Tron (TRX), Monero (XTZ), Zilliqa (ZIL), USDT, USDC and USD pairings are also affected.

The reason for the low trading activity that is informing the move to delist the BUSD pairs might be due to the Paxos-BUSD issue of the previous month.

Effective Feb. 21, stablecoin issuer Paxos ceased minting new Binance USD (BUSD) tokens at the direction of the New York Department of Financial Services (NYDFS).

New Shiba Inu (SHIB) Pair Added by Binance US Exchange

This occurred concurrently with the receipt of a Well's Notice from the United States Securities and Exchange Commission (SEC), alleging that BUSD was an unregistered security.

Paxos stated in a press release that the BUSD stablecoin will remain fully supported and redeemable for onboarded customers through at least February 2024.

SHIB continues to gain exposure

In February, Binance.US launched trading for the SHIB/USD pair. As also reported, BitFlyer, a Japanese crypto exchange with over 2.5 million users, has announced it will start handling SHIB.

Shiba Inu: Japanese Crypto Exchange Announces SHIB Listing

At the time of writing, SHIB was marginally down in the last 24 hours to $0.00001079. In the past 24 hours, a total of 27,613,608 SHIB tokens were burned and 10 transactions were made.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.