Binance to Delist Multiple Trading Pairs Including ANKR, IOTA, LRC, Effective September 1, 2023

Reflecting the dynamic nature of the crypto industry, Binance, a global frontrunner in cryptocurrency exchanges, has declared the discontinuation of multiple spot trading pairs. The adjustments are scheduled to be implemented on September 1, 2023, as confirmed by an official statement from the Binance Team, released on August 30, 2023, at 16:15 UTC.

Details of the Removal

The trading pairs to be removed are as follows:

At 03:00 (UTC) on September 1, 2023: ANKR/BNB, CVC/BUSD, EPX/BUSD, HIVE/BUSD, IOTA/BNB

At 04:00 (UTC) on September 1, 2023: KLAY/BUSD, LRC/BNB, MBL/BUSD, MTL/ETH, UMA/BUSD

The announcement also stated, “Users can still trade the above assets on other trading pairs that are available on Binance.”

Impact on Spot Trading Bots

For traders who utilize Binance’s Spot Trading Bots services, it’s crucial to note that these services will also be terminated for the aforementioned trading pairs. The termination will occur at the same times as the delisting of the pairs: 03:00 (UTC) and 04:00 (UTC) on September 1, 2023. Binance “strongly advised” users to update and/or cancel their Spot Trading Bots “prior to the cessation of Spot Trading Bots services to avoid any potential losses.”

Implications and Considerations

While the announcement did not specify the reasons for the removal, such actions are generally taken due to low trading volume or other market factors that make the pairs less viable for the exchange. Traders and investors should be aware that the removal of these pairs could impact liquidity and trading strategies, particularly for those who rely on automated trading systems.

Regional Restrictions

The announcement included a disclaimer stating that “Products and services referred to here may not be available in your region,” highlighting the importance of regional regulations and availability in the cryptocurrency market.

Image source: Shutterstock

Source

Tagged : / / / / /

XRP, Uniswap (UNI), the Graph (GRT) and Three More Altcoins Approaching ‘Opportunity Zones’: Santiment

Analytics firm Santiment is highlighting possible entry points for half a dozen altcoins amid a general downtrend which has given the crypto markets an extended pullback throughout January.

In its weekly Insights newsletter, Santiment says that while most crypto investors are feeling pain, opportunities exist for those with patience and some handy cash.

The data firm says that the market value to realized value (MVRV) metric, which reveals the average profit/loss for coins in circulation, is helpful when hunting for crypto bargains.

“MVRV is a great metric to gauge how deep traders are into pain or euphoria zones.

We commonly like to look at an asset’s 30-day MVRV, specifically, because it reveals what weekly swing traders can likely take advantage of, as far as mid-term trading goes… Blending in how much pain short-term, mid-term, and long-term traders are experiencing all together, can paint an even clearer picture.”

Looking at the MVRV metric, Santiment names six altcoins that can potentially bounce as traders feel pain.

One crypto asset on the list is open-source digital currency XRP, which the insights firm says is primed for a rally after a strong move down.

“The polarizing project is at its most negative average MVRV level since late June. It was last in positive territory in mid-December, making it a solid candidate to have a price upswing to bring traders some relief.”

Image
Source: Santiment

When it comes to decentralized exchange Uniswap (UNI), the crypto insights firm says,

“Uniswap’s average MVRV is at all-time negative MVRV levels.

An uptick in the general crypto markets may go very well for a mostly respected altcoin like UNI.”

Image
Source: Santiment

Decentralized blockchain indexer The Graph (GRT) is also at MVRV lows, with Santiment noting,

“Its average MVRV was last positive in late November.”

Image
Source: Santiment

Looking at decentralized crypto lending and borrowing protocol Compound (COMP), Santiment says,

“Compound is also at its most negative average MVRV level since late June.”

Image
Source: Santiment

As for layer-2 ZK (zero-knowledge) rollup protocol Loopring (LRC), the analytics firm says LRC still has some upside potential.

“Loopring has already been in the midst of a nice-sized bounce compared to the rest of the altcoin pack over the past week, [but it] is still in a nice, deep negative average MVRV spot.”

Image
Source: Santiment

Last on the list is lending and borrowing protocol Aave (AAVE), which also hasn’t seen much positive price action in more than two months.

“AAVE is sitting at near all-time negative levels, which is great to see if you’re considering buying.”

Image
Source: Santiment

You can read the full report here.

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/ioat

Source

Tagged : / / / / / / / / / / / / / / /

Two Ethereum Scaling Altcoins Are Surging As Bitcoin and Crypto Markets Consolidate

The altcoins for two Ethereum network scaling solutions are continuing to trend upwards despite the overall crypto market correction of the last week.

Scaling solution blockchains are typically second-layer protocols like off-chain layers or side chains built on top of main chains like Ethereum to increase transaction throughput. The Loopring (LRC) platform is one such scaling solution, empowering users to develop Ethereum-based decentralized exchanges (DEXs).

Loopring has seen incredible growth over the last month, increasing in value by approximately 140% over the past two weeks. Despite being down 17% on the week, LRC is trading at $2.67 at time of writing, up 15% over the last 24 hours.

Another scaling solution seeing huge gains today is Immutable X (IMX), the first zero-knowledge rollup (ZK-rollup) for non-fungible tokens (NFTs) on Ethereum. ZK-rollups reduce computing and storage resources for block validation by decreasing the amount of data held in a transaction by bundling hundreds of transfers off-chain, generating cryptographic proof.

IMX, the native token of ZK-rollup platform Immutable X, is currently trading at $6.85, up 28% over the last day and 32% over two weeks.

Both Ethereum scaling solutions aim, in part, to keep transaction costs low and speeds fast on a network known for high gas prices. In the context of crypto, gas refers to the cost necessary to perform a transaction on a given network. Ethereum network gas fees, collected in Ethereum (ETH), continue to be high regardless of the recent market downturn.

At time of writing, the average gas fee associated with swapping a token on Uniswap (UNI), Ethereum’s leading DEX, is $144.63. For many potential blockchain users, these types of gas costs may be considered too high.

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/S-Design1689/Sensvector/pikepicture

Source

Tagged : / / / / / / / / /

Top Crypto Analyst Shares Potential Demand Areas for Dogecoin, Cosmos, and Loopring As Altcoins Correct

A widely followed crypto analyst and trader is mapping out key levels where Dogecoin (DOGE), Cosmos (ATOM) and Loopring (LRC) could carve a local bottom.

Pseudonymous crypto strategist Altcoin Sherpa tells his 148,200 Twitter followers that he expects meme crypto Dogecoin to continue correcting against Bitcoin (DOGE/BTC).

“Looking for those swing lows at 0.00000330 BTC ($0.20).”

Image
Source: Altcoin Sherpa/Twitter

At time of writing, the DOGE/BTC pair is trading at 0.00000396 BTC, worth $0.24.

The next altcoin on the trader’s radar is Cosmos, a project touted as the “internet of blockchains.” Altcoin Sherpa says he sees Cosmos correcting against Bitcoin (ATOM/BTC) to his entry zone around 0.0004 BTC ($24.25).

“ATOM: still pretty neutral on this. I think it goes down a bit more with the BTC pair and then chops (at best) for the USD pair.”

Image
Source: Altcoin Sherpa/Twitter

Next up is Loopring (LRC), a blockchain that empowers anyone to develop a decentralized exchange. According to Altcoin Sherpa, he’s looking to scale into LRC at $2.48 and $2.07.

“LRC: I feel comfortable with this. I’m bidding a bit lower at the 0.382 and 0.50 [Fibonacci levels].”

Image
Source: Altcoin Sherpa/Twitter

As for Bitcoin, the crypto strategist says that although he’s still bullish on the leading crypto asset, he says that a convincing move below $60,000 could catalyze a massive sell-off event.

“One bad thing is that this $60,000 area has been bid a lot in a short amount of time. If $60,000 falls, $50,000 should come swiftly (knowing how these things go). The last true low we had formed at $45,000 so as long as we’re higher, I’m still bullish in the midterm.”

Image
Source: Altcoin Sherpa/Twitter

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Fleren

Source

Tagged : / / / / / / / / / /
Bitcoin (BTC) $ 43,822.74 0.53%
Ethereum (ETH) $ 2,249.53 1.13%
Litecoin (LTC) $ 73.22 0.21%
Bitcoin Cash (BCH) $ 247.65 1.25%