Binance to Delist FDUSD Trading Pairs for Major Altcoins

Binance delists FDUSD trading pairs for major altcoins.

Binance has announced that it will remove several cryptocurrency trading pairs effective January 6. This change affects the First Digital USD stablecoin's pairing with several major altcoins, resulting in minimal market reaction.

Key Takeaways

Binance will delist FDUSD pairs for BCH, TAO, AVAX, LTC, SUI, ADA, and LINK on January 6.
Both cross-margin and isolated margin trading for these pairs will be discontinued.
Users cannot manually or automatically transfer these assets into their Isolated Margin accounts anymore.
The delisting is tied to the First Digital USD stablecoin, with little price impact observed on the affected tokens.

Binance's Delisting Announcement

Binance has revealed plans to discontinue trading pairs with the First Digital USD (FDUSD) stablecoin for several cryptocurrencies, including Bitcoin Cash (BCH), TAO, Avalanche (AVAX), Litecoin (LTC), Sui (SUI), Cardano (ADA), and Chainlink (LINK). This change is set to take effect on January 6, as declared in a statement from the company.

The exchange, known for having the highest trading volume among all cryptocurrency exchanges, will eliminate both cross-margin and isolated margin pairs linked to these cryptocurrencies. Interestingly, Binance did not specify the reasons behind this decision to delist.

Following the announcement, users will immediately be unable to transfer assets of the delisted pairs through manual methods or the Auto-Transfer Mode into their Isolated Margin accounts. Users who still have outstanding liabilities for these tokens can manually transfer amounts matching their liabilities into their Isolated Margin accounts, minus any collateral available.

Impact on Tokens

The primary link among the trading pairs being removed is the First Digital USD stablecoin. Despite the significant change in trading pairs, the affected cryptocurrencies experienced only slight price fluctuations soon after the announcement.

About a week before this announcement, Binance had initiated spot trading for Cardano and other cryptocurrencies; however, this service was not available to users in several regions, such as the United States, Canada, Cuba, Iran, and the Netherlands. This move led to a rise in prices for Cardano and the other listed tokens.

Earlier in December, Binance had also announced the removal of trading pairs for StaFi, REI Network, and Voxies. Market data indicated that prices for these assets fell following that announcement.

In another instance, in October, Binance halted services for Flamingo, Kadena, and Perpetual Protocol, resulting in a decline in Kadena’s valuation as reflected by pricing records.