Binance will discontinue trading pairs for Pepe Coin, Decred, and Horizen on December 13, sparking fear of price drops.
Binance, the world’s largest cryptocurrency exchange, is preparing to eliminate spot trading pairs for Pepe Coin (PEPE), Decred (DCR), and Horizen (ZEN) in response to its most recent market review. The action aims to preserve high-quality trading standards by delisting pairs with low trading volume and poor liquidity. Although Pepe has experienced an impressive 90% surge this month, the news has further increased volatility, resulting in a 10% drop. The update has resulted in mixed price movements for Decred and Horizen.
Pepe Coin, Decred, and Horizen Spot Trading Pairs to be Removed by Binance
Binance announced on December 11 that it would remove spot trading pairs for Pepe Coin, Decred, and Horizen. The decision is a component of Binance’s routine market reviews, designed to preserve the highest standards of trading quality and user experience.
On December 13, at 03:00 UTC, the platform will eliminate the specific pairs of coins—PEPE/TUSD, DCR/BTC, and ZEN/ETH. Binance emphasized that these pairs will no longer be tradable. Nevertheless, users can still access the tokens through other available pairs on the spot market.
Furthermore, the services of Spot Trading Bots for these pairs will be terminated concurrently. The platform has recommended that users update or cancel their trading bots to prevent potential losses. The action serves to emphasize its dedication to the optimization of its platform and the resolution of underperforming trading pairs to safeguard users and guarantee market efficiency.
Binance Loans has implemented Movement (MOVE) as a loanable asset
Binance has broadened its loan offerings in a separate development by incorporating Movement (MOVE) as a new loanable asset on both Binance Loans (Flexible Rate) and VIP Loan. This feature enables users to borrow against MOVE tokens while enjoying the convenience of open-term loans.
The Loans allow users to collateralize cryptocurrencies without being bound by a fixed term, thereby providing them with more flexibility. Borrowers can earn real-time APR rewards and flexibility through Simple Earn Flexible Products.
On the other hand, VIP Loan targets institutional and high-net-worth users by providing over-collateralized loans with competitive terms and customized services. These loans are designed to meet a variety of requirements, including the need for liquidity for long-term investments and leveraged trading strategies.
For seamless access to this service, Binance, one of the most prominent cryptocurrency exchanges, recommends that users update their application to the most recent version. This action is a component of its overarching initiative to improve its financial product line and accommodate the changing requirements of its user base.
Market Performance of Horizen, Decred, and Pepe
Today, the price of PEPE Coin was $0.00002327, a 10% decrease from the previous day. Despite today’s decline, the top meme coin has maintained a 90% increase in value this month, indicating substantial market momentum.
The price of DCR was currently trading at $19.93, with a 24-hour low of $18.51 and a high of $21.26, indicating a 3% decline in the past day. Nevertheless, it has experienced a 46% increase this month, a bullish trend.
Moreover, ZEN’s price was trading at $14.33, representing a 4% increase in the past 24 hours and a 57% increase over the past month. Binance listings and announcements have the potential to generate momentum, as evidenced by the 136% increase in the price of KOMA.
