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Binance is organizing a Shiba Inu and Dogecoin event featuring substantial rewards for crypto traders; the exchange will also delist several spot trading pairs, including Internet Computer and Maverick Protocol.
Impact of Delisting on ICP and MAV
Binance, the biggest cryptocurrency exchange in the world, announced on Wednesday that it will remove several spot trading pairings, citing various reasons for the decision.
Per Coingape, the cryptocurrency exchange has declared that it will delist Internet Computer and Maverick Protocol after the recent designation of several important spot and margin crypto pairings in the delisting and suspending strategy.
Notably, new reference rates and real-time indexes for Internet Computer (ICP) and Ripple’s XRP were recently announced by CME and CF Benchmarks.
An notification was made by Binance stating that the Internet Computer Protocol (ICP) and the Maverick Protocol spot trading pairs against BNB and TUSD will be delisted. On July 19 at 3:00 UTC, the cryptocurrency exchange will delist and stop trading the ICP/BNB and MAV/TUSD spot trading pairs.
Advice on Spot Trading Bots
Binance will also stop providing the aforementioned spot trading pairs with access to their spot trading bots. To avoid losing money when services are turned off, the exchange says users should update or terminate their spot trading bots.
Binance evaluates all listed spot trading pairs on a regular basis to ensure user safety and a high-quality trading market. If a pair is determined to have poor liquidity or low trading volume, among other reasons, Binance may delist it.
In response to several concerns, Binance has been progressively pulling support for the TUSD stablecoin, and next week, the exchange will delist the BTC/TUSD and TUSD/USDT spot trading pairings, according to CoinGape. Nevertheless, the cryptocurrency exchange has implemented measures to improve user trading experience and increase liquidity in the crypto market.
Shiba Inu and Dogecoin Event Announcement
A Shiba Inu and Dogecoin event, with huge awards for crypto players, has also been announced by the exchange. July 29th is the last day of the Battle of The Meme Dogs.
Following the announcement, the price of ICP declined somewhat, and it is now trading at $10.12. The price of Internet Computer (ICP) rose 8% in the past day, with a low of $9.34 and a high of $10.29 for the last 24 hours. As investors seek to cash in on their gains, the trading volume has also dropped marginally.
According to Coinglass, open interest in ICP futures has increased by 4% during the last day.
