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In a move that has sent ripples through the cryptocurrency market, Binance, the world’s leading crypto exchange, has announced&nbsp;the&nbsp;delisting&nbsp;of&nbsp;several crypto trading pairs from its platform.&nbsp;The decision, which affects trading pairs involving popular cryptocurrencies such as KNC, ICX, XTZ, ROSE, and APE, has raised concerns among investors about the potential impact on prices and market sentiment.
<h2 id="span-data-preserver-spaces-true-binance-s-delisting-announcement-sparks-speculations-span">Binance’s Delisting Announcement Sparks Speculations</h2>
<a rel="noopener noreferrer nofollow" href="https://www.binance.com/en/support/announcement/binance-futures-will-delist-and-update-the-leverage-margin-tiers-of-coin-m-kncusd-icxusd-xtzusd-roseusd-and-apeusd-perpetual-contracts-5150d4f0ee1546d7ae6382ba7cda3ffe" target="_blank">Binance Futures</a> recently disclosed plans to delist several perpetual contracts and adjust leverage and margin tiers for COIN-M trading pairs. The affected contracts include KNC/USD, ICX/USD, XTZ/USD, ROSE/USD, and APE/USD, with closure and automatic settlement scheduled for specific dates.&nbsp;
Meanwhile, the <a href="https://coingape.com/glossary/Crypto-exchange-2/" target="_blank" rel="noopener noreferrer nofollow">crypto exchange</a> has urged the traders to heed the warnings, as failure to adjust positions and leverage could lead to liquidation risks. In addition, Binance reserves the right to implement further protective measures amid volatile market conditions, potentially affecting maximum leverage, position values, and funding rates.
Notably, the announcement underscores <a href="https://coingape.com/blog/binance-exchange-review/" target="_blank" rel="noopener noreferrer nofollow">Binance’s</a> proactive stance on risk management and market stability. However, it has also triggered speculations regarding its potential impact on mentioned cryptocurrency prices.&nbsp;
As history suggests, announcements from major exchanges often influence market sentiment, with positive news driving up prices and&nbsp;negative&nbsp;developments dampening investor enthusiasm.&nbsp;In this case,&nbsp;the&nbsp;delisting&nbsp;of&nbsp;trading pairs may inject uncertainty into the market, prompting investors to reassess their positions and trading strategies.
Also Read: <a href="https://coingape.com/ripple-cto-reveals-reason-behind-ethereum-pre-ico-investment-amid-eth-gate-feud/" target="_blank" rel="noopener noreferrer nofollow">Ripple CTO Reveals Reason Behind Ethereum Pre-ICO Investment Amid ETH Gate Feud</a>
<h2 id="span-data-preserver-spaces-true-prices-remain-stable-amid-broader-market-recovery-span">Prices Remain Stable Amid Broader Market Recovery</h2>
For traders and investors, navigating the <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a> market requires vigilance and adaptability. While Binance’s actions aim to mitigate risks and enhance market integrity, they also highlight the inherent volatility and unpredictability of digital asset trading. As such, market participants&nbsp;are urged&nbsp;to stay informed, monitor developments closely, and exercise caution when managing their portfolios.&nbsp;
However, amid the recovery in the broader crypto market, the <a href="https://coingape.com/education/what-is-kyber-network-crystal-v2/" target="_blank" rel="noopener noreferrer nofollow">Kyber Network Crystal v2</a> price rose 5.14% to $0.6134. The <a href="https://coingape.com/price/icx/" target="_blank" rel="noopener noreferrer nofollow">ICX price</a> was up 5.15% and traded at $0.2318, despite Binance’s delisting announcement.
<figure id="attachment_196252" aria-describedby="caption-attachment-196252" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-196252" src="https://coingape.com/wp-content/uploads/2024/05/KNC-Price-Chart-10-05-24.png" alt="KNC Price" width="750" height="528" srcset="https://coingape.com/wp-content/uploads/2024/05/KNC-Price-Chart-10-05-24.png 981w, https://coingape.com/wp-content/uploads/2024/05/KNC-Price-Chart-10-05-24-300x211.png 300w, https://coingape.com/wp-content/uploads/2024/05/KNC-Price-Chart-10-05-24-768x541.png 768w, https://coingape.com/wp-content/uploads/2024/05/KNC-Price-Chart-10-05-24-150x106.png 150w" sizes="(max-width: 750px) 100vw, 750px">
 <figcaption id="caption-attachment-196252" class="wp-caption-text">
 KNC Price Chart
 </figcaption>
</figure>
Simultaneously, the <a href="https://coingape.com/price/tezos/" target="_blank" rel="noopener noreferrer nofollow">Tezos price</a> also noted a surge of 5.42% and exchanged hands at $0.9587, while the ROSE price jumped 5.18% to $0.092. On the other hand, the <a href="https://coingape.com/price/apecoin/" target="_blank" rel="noopener noreferrer nofollow">APE price</a> advanced 5.89% to $1.29, with its trading volume soaring over 6% to $46.2 million.
<figure id="attachment_196251" aria-describedby="caption-attachment-196251" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class=" wp-image-196251" src="https://coingape.com/wp-content/uploads/2024/05/ROSE-Price-Chart-10-05-24.png" alt="ROSE Price Chart" width="757" height="545" srcset="https://coingape.com/wp-content/uploads/2024/05/ROSE-Price-Chart-10-05-24.png 980w, https://coingape.com/wp-content/uploads/2024/05/ROSE-Price-Chart-10-05-24-300x216.png 300w, https://coingape.com/wp-content/uploads/2024/05/ROSE-Price-Chart-10-05-24-768x553.png 768w, https://coingape.com/wp-content/uploads/2024/05/ROSE-Price-Chart-10-05-24-150x108.png 150w" sizes="(max-width: 757px) 100vw, 757px">
 <figcaption id="caption-attachment-196251" class="wp-caption-text">
 ROSE Price Chart
 </figcaption>
</figure>
Also Read: <a href="https://coingape.com/btc-price-rallies-18000-bitcoin-options-expire-today-what-next/" target="_blank" rel="noopener noreferrer nofollow">BTC Price Soars Ahead Of 18,000 Bitcoin Options Expiry Today, What’s Next?</a>
The post <a href="https://coingape.com/binance-delist-major-crypto-sparking-price-concerns/" rel="noopener noreferrer nofollow">Binance To Delist These Major Cryptos Sparking Price Concerns</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Binance To Delist These Major Cryptos Sparking Price Concerns

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