Important Binance Announcements Concerning Many Altcoin Traders

TL;DR

• Binance adds new loanable assets, while planning to delist 16 margin trading pairs soon.
• These changes come amid price drops for some cryptocurrencies and overall market corrections, following recent Bitcoin price volatility.

The world’s leading cryptocurrency exchange – Binance – continues to make amendments to its platform to enhance user experience and respond to market trends.

Most recently, it added Filecoin (FIL), NEAR Protocol (NEAR), Stellar (XLM), EOS (EOS), Injective (INJ), and Alien Worlds (TLM) as new loanable assets on Binance Loans. Users willing to take advantage of the new offering need to upgrade the app to iOS v2.78.0 or Android v2.78.0.

“Older app versions no longer support the placement of new Binance Loans (Flexible Rate) orders,” the company warned.

Besides the addition of new services, the exchange will also remove 16 margin trading pairs, such as ALICE/BTC, BAL/BTC, OAX/BTC, SXP/BNB, BOND/BTC, CHESS/BTC, HARD/BTC, and more. The delisting will take effect on March 15. 

Some of the affected cryptocurrencies, including SXP, BOND, and CHESS, have nosedived shortly after the announcement. However, their poor performance on a daily scale could also be attributed to the overall market correction that took place several hours ago.

Recall that Bitcoin reclaimed its all-time high price of over $69,000 on March 5, but the peak was followed by a plunge to as low as $59,000. The asset regained some ground and currently trades at around $66,700 (per CoinGecko’s data).

This is not the first time Binance has launched similar listing/delisting efforts since the beginning of the year. Earlier this week, it increased the number of trading pairs offered on Binance Spot by adding PEPE/FDUSD, UNI/FDUSD, OM/TRY, PIXEL/USDC, STRK/USDC, and THETA/TRY.

Last month, it terminated services with the popular privacy coin Monero (XMR) and three other altcoins – Aragon (ANT), Multichain (MULTI), and Vai (VAI).