The world’s leading cryptocurrency exchange, Binance, will delist several margin trading pairs on March 27, including those for Ripple (XRP), Bitcoin Cash (BCH), and Avalanche (AVAX). The removal process is expected to take approximately three hours, during which users may not be able to update positions. While affected assets are trading lower, the broader market decline may be a contributing factor. This follows other recent delistings by the exchange, which have previously triggered significant price drops for lesser-known cryptocurrencies.
Binance is set to remove multiple trading pairs this week. The exchange will delist cross-margin and isolated-margin pairs involving assets like XRP, Avalanche (AVAX), and Bitcoin Cash (BCH) on March 27.
The company stated the delisting process should be wrapped up in approximately three hours. It warned clients they may not be able to update their positions during this period.
An official announcement detailed the immediate impact on margin accounts. “…users will no longer be able to transfer any amount of assets of the aforementioned pair(s) via manual transfers and Auto-Transfer Mode into their Isolated Margin accounts,” it reads.
Withdrawing support from a major exchange often negatively impacts asset prices. The affected cryptocurrencies were already trading lower amid a broader market downturn.
Ripple’s XRP dropped 3% over the past 24 hours, while BCH fell 2%. Other impacted coins, including AVAX, also saw declines concurrent with a sector-wide drop.
This action follows other delistings conducted earlier this month. Those previous removals triggered severe price drops for several lesser-known altcoins.
In one instance, Binance Alpha removed 21 altcoins, causing some to plummet by 70-80%. Assets like WorldShards (SHARD) and Alliance Games (COA) were among those affected.
Several days later, the exchange delisted additional pairs including Arena-Z (A2Z) and IDEX (IDEX). IDEX’s price plunged 33% following that disclosure.
Conversely, listing a token on Binance typically provides a substantial boost. Listing new pairs for Centrifuge (CFG) in mid-March saw its price surge over 60%.
