In a recent announcement, the prominent cryptocurrency exchange Binance has unveiled its intentions to remove a trading pair linked to the dog-themed token Shiba Inu (SHIB).
As detailed in a blog post released today, Binance is set to delist the SHIB/TUSD trading pair, effective from June 28 at 03:00 AM (UTC). This strategic move is in line with the exchange’s routine evaluations of all spot trading pairs listed, aimed at ensuring the safeguarding of users’ interests. Typically, trading pairs with low liquidity and volume are phased out after these assessments. Accordingly, Binance has opted to delist the SHIB/TUSD pair due to its insufficient trading volume and liquidity.
Statistics from Binance highlight that the SHIB/TUSD pair registers a mere 24-hour trading volume of $17,577, which translates to a significant amount of over 992 million SHIB tokens.
Binance has expressed its intent to cease spot trading bot services for SHIB/TUSD on June 28, advising users to take necessary actions such as updating or canceling their trading bots to mitigate potential losses.
It is pertinent to note that this isn’t the first instance where Binance has delisted a Shiba Inu trading pair. Notably, the exchange removed the SHIB/BUSD margin pair last year as part of its initiative to discontinue support for the BUSD stablecoin.
Despite the impending removal of SHIB/TUSD, Binance will continue extending its support to eight other Shiba Inu trading pairs, including SHIB/USDT, SHIB/FDUSD, SHIB/USDC, SHIB/EUR, SHIB/TRY, SHIB/BRL, SHIB/DOGE, and SHIB/JPY. This indicates that Binance users can still engage in SHIB trading through these mentioned pairs.
Apart from the SHIB/TUSD delisting, Binance has also disclosed its plans to delist several other cryptocurrency spot trading pairs on June 28 at 03:00 AM (UTC). The affected pairs encompass BLUR/FDUSD, MEME/ETH, LINK/TUSD, OSMO/BTC, NFP/BNB, and METIS/FDUSD.
Despite these developments, the removal decisions have not negatively impacted SHIB’s price action. At present, SHIB is valued at $0.00001750, witnessing a 24-hour increase of 0.63%. Despite experiencing challenges amid the recent market downturn, the token currently boasts a trading volume of $355.51 million.
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