Gushiken Yona
Contrary to sensationalist claims and a flurry of misleading headlines, Binance is not delisting Shiba Inu (SHIB) from its platform. Instead, the exchange is strategically adjusting its trading pairs, removing the SHIB/TUSD (TrueUSD) option due to low trading volume and liquidity.
On Wednesday, Binance announced the removal of several spot trading pairs, including SHIB/TUSD, effective Friday. However, sensationalized headlines misconstrued this announcement, sparking panic among investors. Binance emphasized that SHIB remains available for trading on the platform with numerous other cryptocurrency and fiat currency pairs.
In an official announcement, Binance explained the rationale behind the delisting of specific trading pairs: “To protect users and maintain a high-quality trading market, Binance conducts periodic reviews of all listed spot trading pairs, and may delist selected spot trading pairs due to multiple factors, such as poor liquidity and trading volume.”
The exchange emphasized, “The delisting of a spot trading pair does not affect the availability of the tokens on Binance Spot. Users can still trade the spot trading pair’s br and quote assets on other trading pair(s) that are available on Binance.”
The deliberate misinterpretation of Binance’s announcement highlights the prevalence of clickbait journalism in the crypto space. Some online sites prioritize sensational headlines over accurate reporting, often leading to unnecessary panic and confusion among investors.
This incident underscores the importance of verifying information from reliable sources and avoiding knee-jerk reactions based on misleading headlines. As a responsible investor, it’s crucial to read the entire story and understand the nuances of any announcement before making investment decisions.
Alongside SHIB/TUSD, Binance also delisted other spot trading pairs, including BLUR/FDUSD, LINK/TUSD, MEME/ETH, METIS/FDUSD, NFP/BNB, and OSMO/BTC. This further highlighted that the delisting is part of a routine review process and not a targeted action against any specific cryptocurrency.
Notably, the removal of the SHIB/TUSD trading pair isn’t an isolated event. Binance regularly conducts reviews and adjusts its offerings to maintain a high-quality trading environment. This ongoing process has resulted in the removal of several other trading pairs in the past, including the following:
- November 15, 2022:
Binance removed trading pairs such as FTT/BNB, FTT/BTC, FTT/ETH, and FTT/USDT, but users could still trade FTT on the FTT/BUSD pair (Binance).
- September 15, 2023:
Trading pairs like AMB/BUSD, ASTR/BUSD, BAT/ETH, DASH/BUSD, GMX/BUSD, HOT/BUSD, IMX/BNB, KNC/BNB, MC/BUSD, MDT/BUSD, NULS/BUSD, RAD/BUSD, RAY/BUSD, REQ/BUSD, SSV/BUSD, STMX/BUSD, TROY/BUSD, and WOO/BUSD were removed. However, the assets remained tradable on other pairs available on Binance (Binance).
- November 28, 2022:
Trading pairs including ARK/BTC, BEAM/BTC, BTCST/BTC, BTCST/USDT, GTO/BTC, GTO/USDT, MITH/BTC, MITH/BNB, PERL/BTC, PNT/BTC, REP/BTC, SRM/BNB, SRM/BTC, SRM/USDT, TRIBE/USDT, and XEM/BTC were delisted. The assets continued to be tradable on other pairs.
- November 24, 2023:
Pairs such as APT/BUSD, AXS/BUSD, BAKE/BUSD, CFX/BUSD, CHZ/BUSD, ETC/BUSD, FIL/BUSD, GAS/BUSD, TRB/BUSD, and USTC/BUSD were removed, but the tokens could still be traded on other pairs.
While the removal of SHIB/TUSD may seem concerning at first glance, it’s essential to remember that Shiba Inu remains available for trading on Binance through numerous other pairs. This incident serves as a reminder to be vigilant against clickbait headlines and always verify information from official sources before reacting to news in the volatile crypto market.
Disclaimer: Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.
The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
