Binance Delists Thirty Trading Pairs, Including Some From Its IEOs

Binance, one of the world’s leading cryptocurrency exchanges, has announced it delist thirty trading pairs from its platform. One-fifth of these include tokens launched through its initial exchange offerings (IEOs).

According to the exchange’s announcement, notable trading pairs including cryptoassets launched in its IEO platform – including BitTorrent’s BTT, Elrond (ERD), Harmony (ONE), and WINk (WIN) – are being delisted to “improve liquidity and user trading experience,2 and were chosen “as requested by most project teams.”

The delisted trading pairs featuring IEO tokens are:

ANKR/PAX, ANKR/TUSD, ANKR/USDC, BCPT/PAX, BCPT/TUSD, BCPT/USDC, BTT/BTC, DENT/BTC, DOGE/PAX, DOGE/USDC, ERD/PAX, ERD/USDC, FTM/PAX, FTM/TUSD, FUEL/ETH, GTO/PAX, GTO/TUSD, GTO/USDC, LUN/ETH, NCASH/BNB, NPXS/BTC, ONE/PAX, ONE/TUSD, PHB/PAX, PHB/USDC, TFUEL/PAX, TFUEL/TUSD, TFUEL/USDC, WAVES/PAX, WIN/BTC.

Trading pairs are more often than not delisted from cryptocurrency exchanges because of poor trading volume, as low-liquidity means bad actors are able to manipulate the market via pump and dumps. These affect the reputation of both the token and the exchange. The delistings are nevertheless notable.

After the IEO trend started various crypto exchanges started their own token ale platforms, including some of Binance’s biggest competitors, like OKEx. Its competitor hasn’t so far delisted any of the tokens sold via their IEO platforms.

OKEx, as CryptoGlobe covered, has supported the launch of the enterprise-focused network Hedera Hashgraph and as listed its HBAR token in September of this year. Hashgraph’s mainnet launched later that month, with 26 decentralized applications.

The network reportedly has a faster consensus algorithm than the blockchain used by Ethereum and Bitcoin, and claims to be capable of supporting up to 10,000 transactions per second.

Other projects the exchange hosted on its IEO platform, OKEx Jumpstart, include that of UK-based, FCA-regulated fintech company Wirex, which innovated by offering a crypto and traditional currency integrated Visa card. Its token, WXT, was designed to “help users access unique rewards and save on fees.”

OKEx Jumpstart also launched projects like Pledgecamp (PLG), a “crowdfunding 2.0” platform, and of X-power Chain (XPO), a “cloud screen ecosystem based on self-developed public chain.”

Chainlink and Dai Will Soon Be Listed on Crypto Exchange Gemini, LINK Up Over 18%

On Thursday (April 9), crypto exchange Gemini, which was founded in 2014 by the famous Winklevoss twins, announced that in addition to the upcoming support for Basic Attention Token (BAT), which was announced on Monday (April 6), it would be listing three more cryptoassets on April 24.

In a blog post published earlier today, Gemini said that it plans to support three new cryptoassets on its trading platform: Chainlink (LINK), Dai (DAI), and Orchid (OXT).

Gemini also said it will be allowing LINK, DAI, and OXT deposits into Gemini accounts starting at 09:30 Easter Time (or 13:30 UTC) on 24 April 2020, and mentioned that trading would "follow shortly thereafter."

This is the first month that Gemini has added support for any new digital assets since December 2018 (when it listed Bitcoin Cash), and this move by Gemini will bring the total number of cryptoassets it supports to nine (the others are Btcoin, Ether, Bitcoin Cash, Litecoin, Zcash, Chainlink, Dai, and Orchid). As for custody, Gemini currently supports the following 15 cryptoassets: ZRX, BRD, MANA, ENJ, FXC, GUSD, GNT, KNC, LOOM, MKR, NMR, OMG, STORJ, FIL, and CSP.

Gemini will be offering the following nine trading pairs for LINK, DAI, and OXT:

new trading pairs Gemini announced on 9 Apr 2020.png

On Monday (April 6), Gemini announced that it would be adding support for Basic Attention Token (BAT) on April 24.

Here is how Gemini is describing these four cryptoassets:

  • "Basic Attention Token is the native currency token of the Brave Browser, which is built to provide a more efficient and effective mechanism for connecting and rewarding users, advertisers, and publishers."
  • "Chainlink is building a bridge between smart contracts and off-blockchain data, broadening their access to information and increasing their application potential."
  • "Dai is a decentralized, crypto-collateralized stablecoin that seeks to maintain a 1:1 soft-peg with the U.S. dollar. Its primary purpose is to provide you with stable crypto dollars to use on the Ethereum network."
  • "Orchid is a peer-to-peer marketplace for virtual private networking (VPN) providers. OXT is the token used to purchase VPN bandwidth."

According to data from CryptoCompare, at press time (around 12:13 UTC on April 9), LINK, DAI, and OXT are currently trading at $3.242, $1.025, and $0.1404 -- up 13.99%, 0.39%, and 2.26% -- respectively in the past 24-hour period:

LINK-USD 24 Hour Chart on 9 Apr 2020.png

DAI-USD 24 Hour Chart on 9 Apr 2020.png

OXT-USD 24 Hour Chart on 9 Apr 2020.png