u.today
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 those of SHIB.
"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.
Based on recent trading activity, #BinanceUS will remove & cease trading for 16 Adv. Trading $BUSD pairs on 3/29/23 @ 8 p.m. PT / 11 p.m. ET.
— Binance.US Customer Support (@BinanceUShelp) March 22, 2023
Please review any trades or open orders that may be impacted.
Deposits & withdrawals will remain available.
👉 https://t.co/7p3wCgE4JL pic.twitter.com/bdE6Hlwi31
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).
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.
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.