The cryptocurrency market has a mixed outlook today. The leading crypto Bitcoin is hovering around 95 thousand dollars with slight gains. In the altcoin market, some tokens like XRP stand out with their gains. However, some tokens are losing altitude with the negative news they received. Binance, the world’s largest cryptocurrency exchange, decided to delist 3 altcoins from the futures market. Token prices reacted to this decision with a decline.
Binance delisted 3 tokens from the futures market!
As you follow on Kriptokoin.com, cryptocurrency exchanges frequently update their lists. Within the scope of customer satisfaction and feedback, Binance also makes some listing and delist decisions. In this context, the giant exchange decided to remove some tokens from the futures market. Binance shared this decision with the following announcement:
Dear Binance users, Binance Futures will close all positions and perform automatic settlement on USDⓈ-M XEMUSDT, ORBSUSDT, and LOOMUSDT USDⓈ-M perpetual contracts on 09.12.2024 at 12:00 PM PT. The contracts will be delisted after the settlement is completed.
Altcoin prices reacted to the decision with a drop!
After Binance’s announcement, token prices started to decline. The price of NEM (XEM), one of them, experienced a vertical decline. The NEM price suddenly dropped to $0.2532 from $0.28 during the day. The token later recovered some of its losses. At the time of writing, XEM was changing hands at $0.2621, down about 6% on a daily basis. Meanwhile, the token’s trading volume also fell by 12%. This suggests that investors and traders are losing interest in the token.
Orb City (ORB) suffered a similar fate. The ORB price fell from $0.002896 to $0.0026 during the day. The token price is still hovering near these levels. At the time of writing, ORB was changing hands at $0.0016, down 8.61% on a daily basis. Meanwhile, the token’s trading volume saw an interesting 21.16% increase. This probably indicates an effort by investors and traders to get rid of the token.
Loom Network (LOOM), which the Binance exchange delisted, also saw a decline. The LOOM price dropped from $0.0077 to $0.0072 during the day. The token price is still hovering near these levels. At the time of writing, LOOM was changing hands at $0.007323, down 4.45% on a daily basis. Meanwhile, the token’s trading volume dropped by 26.77%. This suggests that investors and traders are losing interest in the token.
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