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CoinGape 2024-12-24 09:11:12

BOME, ACE, & 8 Other Crypto Risks Falling Amid Binance’s Delisting Announcement

BOME, ACE, & 8 Other Crypto Risks Falling Amid Binance’s Delisting Announcement

Binance, a leading crypto exchange, has informed the delisting of spot trading pairs for several tokens, sparking speculations. The tokens are Fusionist (ACE), AC Milan Fan Token (ACM), Book of Meme (BOME), Dymension (DYM), Metal DAO (MTL), Pixels (PIXEL), QuarkChain (QKC), Radworks (RAD), and Renzo (REZ). Among these, QuarkChain (QKC) saw the steepest decline, dropping 12%. This move reflects Binance’s commitment to ensuring market quality, sparking varied reactions across the market. Binance Announces Delisting Of BOME, ACE, & Others Binance announced on December 24 that it would remove 11 trading pairs. The affected trading pairs include ACE/BTC, ACM/TRY, BOME/BTC, DYM/BTC, MTL/TRY, PIXEL/BNB, PIXEL/FDUSD, QKC/BTC, RAD/BTC, REZ/FDUSD, and TUSD/TRY. The exchange said that the base and quote assets of these tokens will still be available for trading through other spot pairs. Additionally, the top crypto exchange said that it would terminate its Spot Trading Bots for these pairs on the same date. Meanwhile, the delisting will take effect at 03:00 (UTC) on December 27. Users should cancel or update their Spot Trading Bots to avoid potential losses. The exchange reiterated that delisting specific trading pairs does not affect the availability of the underlying tokens on its platform. Will The Crypto Prices Dip Ahead? The Binance delisting announcement has sparked varied market reactions across the 10 affected tokens. Fusionist (ACE) price saw a modest 4% increase, trading at $2.157, with a 24-hour low of $2.015 and a high of $2.218. Similarly, AC Milan Fan Token (ACM) price climbed 4% to $1.634, with lows and highs of $1.566 and $1.645, respectively. Book of Meme (BOME) price gained approximately 5%, trading at $0.0065, supported by a $450M market cap. Dymension (DYM) price experienced a 6% rise, trading at $1.50, with its 24-hour low and high recorded at $1.40 and $1.542. Metal DAO (MTL) price mirrored the positive trend, climbing 6% to $1.20, driven by a $94M market cap. Pixels (PIXEL) price saw a 4.6% uptick, reaching $0.16. However, not all tokens benefited, as QuarkChain (QKC) price suffered a steep 12% decline, trading at $0.0112. Minor gains were recorded for Radworks (RAD) at $1.256 and Renzo (REZ) at $0.036, each with a modest 2% increase. Historically, Binance delistings have had severe impacts on token performance. For instance, Heroes of Mavia (MAVIA) price fell by 28%, OMG Network (OMG) price dropped by 15%, and BarnBridge (BOND) price plummeted by 80% within a month of being delisted. These cases demonstrate how delistings often lead to panic selling, reduced liquidity, and long-term price declines, causing significant concerns for investors in affected tokens. The post BOME, ACE, & 8 Other Crypto Risks Falling Amid Binance’s Delisting Announcement appeared first on CoinGape .

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