- Binance will delist QTUM, XVS from BTC margin pairs, advising users to adjust positions.
- COS/BTC and FXS/BTC spot pairs also face removal, citing low volume and liquidity.
- The changes coincide with post-election crypto gains in QTUM, XVS amid shifting market trends.
Binance has announced it will delist specific trading pairs for QTUM, XVS, COS, and FXS, a move set to impact both margin and spot trading options.
Effective November 7, 2023, at 06:00 UTC, the platform will halt isolated margin borrowing for QTUM/BTC and XVS/BTC pairs, with full delisting following on November 14.
The delisting will affect cross and isolated-margin trading for QTUM and XVS. Binance urges traders to close their open positions before November 14 to prevent potential losses as positions will close automatically. Additionally, users are advised to transfer assets from Margin Wallets to Spot Wallets to facilitate a smooth transition.
Meanwhile, Binance will discontinue spot trading pairs COS/BTC and FXS/BTC on November 8 at 03:00 UTC.
The decision follows Binance’s strategy of regularly reviewing and refining its offerings, addressing liquidity and trading volume issues on specific pairs. By optimizing trading options, Binance aims to maintain a high-quality user trading environment.
Despite the announcement, QTUM and XVS have seen short-term price gains spurred by market sentiment following the recent U.S. election. QTUM’s price surged to $2.32, with an intraday low of $2.13, while XVS climbed to $6.70, reflecting a positive response to Donald Trump’s election win.
COS and FXS have grown today, with COS trading at $0.0066 and FXS at $1.818. However, market analysts suggest that trading volumes may drop over time due to Binance’s delisting.
While QTUM and XVS will no longer be available in BTC margin trading pairs on Binance, both coins remain accessible through non-margin pairs, allowing users to continue trading them on the platform.
These changes underscore Binance’s adaptive strategy, designed to meet evolving market demands while ensuring robust trading operations.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
