Kvalentine (OP)
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September 30, 2019, 08:37:27 AM |
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Here we go again, binance exchange decided to delist 30 different types of trading pairs on its platform and six of those trading pairs involve tokens launched on Binance Launchpad Initial Exchange Offering (IEO) platform, namely BitTorrent, Elrond, Harmony and WINk. The trading pairs are mostly TUSD and USDC pairs and Binance claimed that the pairs were being removed to improve liquidity and user trading experience and that the choice of trading pairs was as requested by most project teams. Why would the project teams want such? what am i missing here? anyone? Read the full news through the link below https://cointelegraph.com/news/binance-delists-trading-pairs-some-include-tokens-from-its-launchpad/amp |
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shinratensei_
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September 30, 2019, 09:26:40 AM |
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Let's put this one the main aims of the team.
Those teams were creating such request to binance to do that and in my understand if those coins are facing a big problem due to the decrease of the daily trade volume. The teams are thinking if they can put only in a few trading pair and there will be a chance to build good liquidity in the market.
Remember about the various kind of trading pairs will be dividing the total volume into the small parts.
That's why even ERD and bittorrent created such request for binance.
To make the trade volume becomes centralized and those projects hope if this will increase the liquidity.
They are aware about the possibility of big spread that will be created due to the low daily trade volume and big spread between buying and selling order. In that situation, the token can be dumped easily.
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Bttzed03
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September 30, 2019, 10:42:17 AM |
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If you are someone who owns an exchange platform, it would make sense to remove pairings that does not generate enough volume. Why maintain something that is no longer beneficial to the platform? It should not be a problem for the affected pairings also. I believe they still have the option to request again once there is consistent demand for another pairing.
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Alluro
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September 30, 2019, 10:52:01 AM |
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Those trading pairs have low volume right now. That's why binance has decided to delist those trading pairs. I think this is not a bad dession. Because binance is one of the top exchange in the crypto market. They are improving the quality of the exchange. The next thing is other binance listed coin's projects are work and update day by day to get more volume of their coins.
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quierx16
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September 30, 2019, 10:57:32 AM |
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They have a good point and I think it is a good idea so there will be more opportunities to traders because some pairs are really just a waste because few people use it to trade.
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nxnqauff
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September 30, 2019, 11:04:08 AM |
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I personally think this is a very nice initiative from Binance. Time to time clean up is absolutely necessary. Why wasting platform with non performing assets. Instead give opportunity to new ones which might shine.
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FLHippy
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September 30, 2019, 11:07:50 AM |
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It means that Harmony, Wink, Elrond and so on will not be delisted but only there will be less pairs to trade? That is not a problem definetely because you can switch between BTC and USD instantly  . |
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michellee
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September 30, 2019, 11:10:36 AM |
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If the exchanges have a low volume trade, the exchanges will delist the coin/tokens because they think that they cannot make a profit from those coins/tokens. It's normal to see that, and if you remember, the other exchanges were already delisting the other coins too because of the low volume trade. We will see another delist from the exchanges in the future so that's good for the exchanges itself because they can get a fresh list to make a profit.
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Red-Apple
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September 30, 2019, 11:38:35 AM |
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that is normal. shitcoins come and die to disappear from the face of the market. if it wasn't happening then the number of existing coins would have been in 4 digits instead of being 2k something.
the most interesting thing about this particular delisting is the fact that a lot of the dead shitcoins are the tokens they were advertising as IEOs on their platform and were supposed to be better than the rest of the shitty ICOs. you can see now that there really isn't any difference even though they changed the name from ICO to IEO and tried pretending there is.
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Javi_Anibarro
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September 30, 2019, 11:43:55 AM |
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Those trading pairs have low volume right now. That's why binance has decided to delist those trading pairs. I think this is not a bad dession. Because binance is one of the top exchange in the crypto market. They are improving the quality of the exchange. The next thing is other binance listed coin's projects are work and update day by day to get more volume of their coins.
I think it is mainly because of the team themselves not the Binance itself, as OP stated above. The team is asking for this because they want the users to focus on one pair of trade instead of making a multiple order from different pair that will reduce the orders and widen the gap between the orders. it is an old trick to maximize the volume and increase the support. It means that Harmony, Wink, Elrond and so on will not be delisted but only there will be less pairs to trade? That is not a problem definetely because you can switch between BTC and USD instantly . Precisely, as long as it is there. Everything is fine |
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ivaf
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September 30, 2019, 11:46:55 AM |
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I see nothing wrong with removing illiquid pairs from trading. And the fact that some of these coins with IEO Binance Launchpad makes you wonder - is there a difference between ICO and IEO?
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PLATO
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September 30, 2019, 11:52:47 AM |
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Those trading pairs have low volume right now. That's why binance has decided to delist those trading pairs. I think this is not a bad dession. Because binance is one of the top exchange in the crypto market. They are improving the quality of the exchange. The next thing is other binance listed coin's projects are work and update day by day to get more volume of their coins.
Most of these are very cheap coins and deleting the BTC trading pair is not an issue at Binance exchange. Investors can switch to USDT for trading as this is a trading pair with a much higher liquidity than BTC. When this news came out I was very worried about the IEO projects at this exchange but when calmly researching the content, I felt that this was something that all other exchanges should do during this time. |
All posts by me after 2012 were a compromised account. Probably by "BBOD The Best Futures Exchange". SORRY Y'ALL
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ansi
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September 30, 2019, 12:13:14 PM |
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The idea itself isn't so ba, actually it's great, the thing is that some people aren't comfortable enough using USDT (not 100% safe as you know)so they prefer trader with other Stable Coins.
Now let's get back to what Binance team did by desisting those pairs, i's GREAT MOVE i say & i wish to see only one dominant table Coin there trading against other crypto so the liquidity starts to be logic gain.
Since Binance banned USA users, we all notice a huge decrease in the daily trading volume & since Binance has a great team adapting with market conditions, i salute them for doing this move or removing these Stable Coin Pairs & make them in one (let( say USDT only).
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Novatech8
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September 30, 2019, 12:17:33 PM |
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Here we go again, binance exchange decided to delist 30 different types of trading pairs on its platform and six of those trading pairs involve tokens launched on Binance Launchpad Initial Exchange Offering (IEO) platform, namely BitTorrent, Elrond, Harmony and WINk. The trading pairs are mostly TUSD and USDC pairs and Binance claimed that the pairs were being removed to improve liquidity and user trading experience and that the choice of trading pairs was as requested by most project teams. Why would the project teams want such? what am i missing here? anyone? Read the full news through the link below https://cointelegraph.com/news/binance-delists-trading-pairs-some-include-tokens-from-its-launchpad/ampChill pal, those pairs that got removed on binance exchanges have no trading volumes thats why they are been removed, i trust any decisions make by binance exchange,its for the best of every traders and the projects as well, its a good move that needs to be made, hope other exchanges can learn from binance team |
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Metall303
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September 30, 2019, 12:35:35 PM |
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Today I saw this news and it is very sad. they even delisted trading pairs with BTT. they themselves have created a rush around this coin and now they are now removing the trading pair. it all looks like a hidden scam
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coin-investor
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September 30, 2019, 12:36:01 PM |
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If you are someone who owns an exchange platform, it would make sense to remove pairings that does not generate enough volume. Why maintain something that is no longer beneficial to the platform? It should not be a problem for the affected pairings also. I believe they still have the option to request again once there is consistent demand for another pairing.
I share your opinion that coins/tokens that do not generate enough volume should be delisted, Binance is not my main exchange, I'm checking some of the coins and tokens that they delisted in Coinmarketcap, one popular is BitTorrent https://coinmarketcap.com/currencies/bittorrent/ Volume (24h) $62,717,954 USD 7,780 BTC 4,481,517,904 TRX Does BitTorrent deserves to be delisted it has a good performance in terms of volume, am I missing something here/ |
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bitcoinposts
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September 30, 2019, 12:42:53 PM |
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some of the coins which are being delisting are newly launched Ieo i think they didnt show real development to binance team they are getting delisted
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btc_angela
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September 30, 2019, 01:03:19 PM |
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Just for the record, here is the official statement from Binance: Fellow Binancians,
To improve liquidity and user trading experience among our wide range of available assets, Binance will remove and cease trading on the following trading pairs (as requested by most project teams) at 2019/09/30 8:00 AM (UTC):
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. https://www.binance.com/en/support/articles/360034580431But I was surprised to see BTT/BTC, I mean what happened? BTT was doing good and it really alarm me that such good coin as BTT are going to be delisted right after just listing them a couple of months ago. Does it mean that it is being used for pump and dump scheme? |
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beerlover
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September 30, 2019, 01:11:42 PM |
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six of those trading pairs involve tokens launched on Binance Launchpad Initial Exchange Offering (IEO) platform, namely BitTorrent, Elrond, Harmony and WINk.
Bittorent and wink are tron's tokens under Justin Sun's management. On seeing this topic first, I thought it could an usual maintenance routine for an exchange whereas new tokens (Bittorent was launched last Feb 11th and this Sept 11th only wink was launched or airdropped for tron's holders). I guess all the tron holders must need to wake up now at least. But, with recent down surge of BTC, Tron must be one of the coin which performed well. Still, not sure what are the plans Sun is having. Why would the project teams want such? what am i missing here? anyone?
We need to accept those decisions of centralized authorities are making and need to understand that this is how exchanges are working. They clearly mention one of the reason as " to improve liquidity and user trading experience". So, we must need to assume like it would be for "better binance". |
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funchiestz
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September 30, 2019, 01:28:29 PM |
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Actually it was very good when we looked at it. For low-value coins against BTC, such as WIN, NPXS, DENT, BTT, trading became increasingly difficult. So think about the WIN / BTC parity was between 1-2 sats. If you bought WIN for 1 satoshi when you sold at 2 sats would be 50% profit, but it would require a lot of trading for that. The same goes for the others.
But there is one more bad thing. WIN had already dropped to 1 satoshi. In 8 decimal with 1 satoshi, the last point for trade in Binance. Now there is a chance to fall further against the USD.
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