Bitcoin
Binance Axes BitTorrent Token (BTT) Trading Pair and 29 Others
Christine Vasileva | Sep 30, 2019 | 09:00
Binance went on a delisting spree, going as far as to eliminate the BTT/BTC pairing. Binance culled 30 trading pairs in total, without removing the actual assets.
Binance Removes Launchpad Token Pairs
The most significant removal was for BitTorrent Token (BTT). Now, BTT only trades in pairs against stablecoins Tether (USDT), Paxos Standard (PAX), USDC and TrueUSD (TUSD). The other price discovery market is Binance Coin (BNB).
For BTT, the removal of the BTC pair may also remove some of the price pressures. BTT was one of the big disappointments of the Binance Launchpad program. As with other token sales, BTT initially spiked, then fell and now trades at about half its IEO price. BTT sank down to 5 Satoshi, down from a peak of 35 Satoshi right after the trading started.
But BitTorrent Token was not the only IEO asset to be delisted. Binance also culled the pairs for Elrond Network (ERD), erasing ERD/PAX and ERD/USDC. ERD also erased more than 75% of its dollar and Satoshi price, down to $0.0014 and 17 Satoshi.
The Harmony (ONE) IEO token will also see its pairings reduced, losing ONE/PAX and ONE/TUSD. The WINk (WIN) IEO token lost the WIN/BTC pair.
The Cull Continues
The entire list also includes older assets:
ANKR/PAX, ANKR/TUSD, ANKR/USDC, BCPT/PAX, BCPT/TUSD, BCPT/USDC, BTT/BTC, DENT/BTC, DOGE/PAX, DOGE/USDC, ERD/PAX, ERD/USDC, FTM/PAX, FTM/TUSD, FUEL/ETH, GTO/PAX, GTO/TUSD, GTO/USDC, LUN/ETH, NCASH/BNB, NPXS/BTC, ONE/PAX, ONE/TUSD, PHB/PAX, PHB/USDC, TFUEL/PAX, TFUEL/TUSD, TFUEL/USDC, WAVES/PAX, WIN/BTC.
Binance is worried about small-scale pairs causing significant volatility. The worsening of the climate for altcoins also leads to highly illiquid markets, which could also be manipulated. In the past, the leading crypto exchange has seen significant activity on largely forgotten assets, causing significant losses.
Binance has also delisted assets due to disapproval, as in the case of the removal of all pairings for Bitcoin SV (BSV). Previously, Binance also removed Centra (CTR), an ICO token that lost all its value after the founders disappeared in an exit scam. Binance also removed Bytecoin (BCN) for causing extreme trading volatility. Binance also shrank the Dogecoin (DOGE) market, just months after deciding to finally list the meme coin, despite its relatively low volumes and lack of development.
What do you think about the latest Binance pair delistings? Share your thoughts in the comments section below!
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