Altcoin
Binance To Delist These Crypto Spot Pairs, What’s Next?
Binance has announced the delisting of several crypto tokens from its platform. This is set to take effect on August 26, 2024. This decision affects six tokens across multiple trading pairs, signaling a major shift in their asset offerings.
Binance Delisting Process
The Titan crypto exchange has announced a significant update to its trading offerings. On August 26, 2024, at 11:00 UTC+8, the platform will delist and cease trading for all spot trading pairs of six tokens.
This decision comes as part of the exchange’s regular review process, which aims to ensure that all listed digital assets continue to meet the exchange’s high standards and comply with evolving industry requirements. The specific trading pairs slated for removal include CVP/USDT, EPX/USDT, FOR/BTC, FOR/USDT, LOOM/BTC, LOOM/TRY, LOOM/USDT, REEF/TRY, REEF/USDT, and VGX/USDT.
After August 26, all trade orders in the affected pairs will be automatically removed from the order books. Users are advised that deposits of these tokens will not be credited to their accounts after August 27, 2024, at 03:00 UTC.
Furthermore, withdrawal support for these tokens will be discontinued after November 26, 2024, at 03:00 UTC. In a move that may provide some relief to token holders, Binance has indicated the possibility of converting delisted tokens into stablecoins on behalf of users after November 27, 2024.
The implications of Binance delisting extend far beyond spot trading, affecting various products and services. Binance Simple Earn will delist the affected tokens after August 22, 2024, with automatic redemption of Flexible and Locked Products positions. The Auto Invest feature for these tokens will be discontinued after August 20, 2024.
Binance Loans and VIP Loan services involving LOOM, REEF, and EPX will close all outstanding loan positions by August 20, 2024. The exchange strongly advises users to repay any outstanding loans before this date to avoid potential losses. Also, the exchange Funding Rate Arbitrage Bot will cease operations for LOOM/USDT and REEF/USDT pairs on August 19, 2024.
It’s important to note that while this delisting affects a wide range of their services, the USDⓈ-M LOOMUSDT and REEFUSDT Perpetual Contracts trading will continue unaffected. This distinction highlights the complex ecosystem of cryptocurrency trading products and the nuanced approach exchanges must take when managing their offerings.
Also Read: Binance To Halt Withdrawals Of These Delisted Tokens, But There’s A Catch
Market Impact on Affected Tokens
The announcement of the delisting has had immediate and significant effects on the prices of the affected tokens, illustrating the substantial influence that major exchanges like Binance’s delisting processes can have on cryptocurrency valuations.
Reef (REEF) has experienced a sharp decline, with its price dropping to $0.0008747, representing a substantial 25.15% decrease in the last 24 hours and a 6.82% decline over the past week. With a circulating supply of 23 billion REEF, the token’s market capitalization has shrunk to $20,084,562, reflecting the market’s swift reaction to the news.
Loom Network (LOOM) has also felt the impact, with its price falling to $0.0465, marking a 14.47% decrease in the last 24 hours. Interestingly, LOOM has managed to maintain a 4.58% increase over the past week, suggesting some resilience or potential speculative activity in anticipation of the delisting. With a circulating supply of 1.2 billion LOOM, the token’s market cap stands at $57,165,372.
ForTube (FOR) has been hit particularly hard, with its price plummeting to $0.00903, representing a staggering 39.11% decline in the last 24 hours and a 30.04% drop over the past week. The token’s market capitalization has dwindled to $5,088,926, based on a circulating supply of 560 million FOR.
These significant price movements highlight the volatile nature of cryptocurrency markets and the substantial impact that listing decisions by major exchanges can have on token valuations.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Cardano price is repeating a pattern from 2024 that experts say is a signal for a massive pump in the coming weeks. While present figures are largely underwhelming for ADA, investors are brimming with confidence for a strong reversal in the near future.
Cardano Price Can Reach $2.5 In May
According to pseudonymous cryptocurrency analyst Master Kenobi, Cardano price is exhibiting cyclical behavior. In a post on X, Master Kenobi notes that ADA’s consolidation in recent days mirrors its price action from Q3 of 2024.
At the time, Cardano’s price suffered a steep correction in early August and endured a lengthy consolidation period before rallying. Presently, Cardano’s price is consolidating after the deep in early February that sent prices to $0.49.
“ADA is currently in a consolidation phase that resembles its behavior from August-September 2024,” said Master Kenobi. “Since the dip on August 5, it hasn’t recorded a new low – just as it hasn’t now, following the dip on February 3.”
According to Master Kenobi, a lengthy consolidation phase will be the precursor for an impressive rally for Cardano’s price. The analyst theorizes that the incoming rally will send Cardano to impressive levels in May. In the short term, analysts are eyeing ADA to hit $1, citing rising whale activity and positive fundamentals.
“If this pattern holds, May could bring a massive pump, potentially pushing the price toward $2.5,” said Master Kenobi.
ADA Ripples With Bullish Activity
At the moment, Cardano price is trading at $0.6646, a far cry from its all-time high of $3.10. Despite the lull in price action, the ecosystem is brimming with bullish activity for higher valuation.
Investors have their eyes on $10 after ADA outperformed top S&P 500 companies in a strong show of resilience. Futhermore, increased whale activity in the space is signaling an impending rally for ADA as community sentiment reaches an all-time high.
Analysts have opined that an ADA rally to $10 is not a crazy prediction, citing a slew of positive fundamentals for the network. However, pundits are urging investors to brace for multiple corrections in the march to reach a valuation of $10.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto analyst Egrag Crypto has again provided a bullish outlook for the XRP price. This time, he alluded to historical trends to explain why the altcoin can hit a new all-time high (ATH) in 90 to 120 days.
Why The XRP Price Can Hit ATH In 90 To 120 Days
In an X post, Egrag Crypto alluded to historical patterns to explain why the XRP price can hit a new ATH in the next 90 to 120 days. He noted that the RSI chart shows important historical patterns and stated that the altcoin usually has two peaks during its bull runs.
The crypto analyst further revealed that in 2021, the second peak occurred after 90 days, while in 2017, it occurred after 120 days. Based on this, Egrag Crypto affirmed that this historical timeframe provides market participants with a potential for a “great opportunity,” hinting at the altcoin hitting a new ATH.
In another post, he raised the possibility of the XRP price reaching a new ATH of $3.9 by May. This came as he identified an Inverse Head and Shoulder pattern, which was forming for the altcoin. The crypto analyst stated that the measured move is $3.7 to $3.9.
For now, an XRP analysis has shown that the altcoin is struggling at $2.15 amid regulatory uncertainty over SEC Chair nominee Paul Atkins. In his update on this Inverse Head and Shoulder pattern, Egrag Crypto remarked that a close above $2.24, the Fib 0.888, is the next minor target. He affirmed that the pattern is still unfolding as anticipated.
Ripple’s Native Token Could Still Drop Below $2
Crypto analyst Dark Defender has predicted that the XRP price could still drop below $2 before the next leg up. In an X post, he stated that Ripple’s native token is in the 4th Wave of the Monthly Elliott Wave structure.
His accompanying chart showed that XRP could drop to as low as $1.88 on this Wave 4 corrective move. Once that is done, the altcoin will witness its next leg up, rallying to as high as $5.8, which would mark a new ATH.
Dark Defender assured that Wave 4 will end soon and that XRP will continue to reach its targets. The crypto analyst recently affirmed that the altcoin is the “one” and explained why it would dominate Bitcoin and Ethereum.
Crypto analyst CasiTrades also suggested that XRP could further decline before its next leg to the upside. She noted that after the drop to $2.27, the altcoin showed no bullish RSI divergence, which signaled that the drop wasn’t quite done yet.
She added that the coin is now likely heading down to test the 0.618 golden retracement at $2.17, or possibly the golden pocket at $2.15 for a final low before “lift-off.” However, CasiTrades also mentioned that RSI is starting to build the bullish divergence and that the selling pressure is exhausting.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Gemini, the crypto exchange founded by the Winklevoss twins, is promoting its previously launched XRP cashback program, which offers crypto rewards to users. This initiative allows eligible participants to earn rewards on their XRP transactions. Here’s a look at the program details and the steps required to join.
Gemini Founder Unveils XRP Cashback Rewards
On March 27, Tyler Winklevoss reminded the XRP community and Ripple army on X (formerly Twitter) that they can earn rewards in the token whenever they use the Gemini Credit Card for purchases. The Gemini credit card, launched in partnership with Mastercard in 2021, allows users to choose cryptocurrencies from Bitcoin, Ethereum, XRP, and over 50 other digital assets for cashback.
Since adding XRP to its long portfolio of crypto cashback offerings in August 2023, Gemini has continued to support the third-largest cryptocurrency as an option for crypto enthusiasts. The Credit Card reward information announced by Winklevoss was well received by the XRP community.
He explained that the Gemini Credit Card allows users to earn crypto back each time they spend fiat. He clarified that this feature is only available to residents in the United States (US) currently. The Gemini founder also revealed that he has been using the Credit Card for years and has had a great experience accumulating significant crypto rewards from the cashback program.
Gemini’s Credit Card offers tiered cashback rates depending on the purchase categories. A 4% XRP cashback is offered on gas and EV charging, with up to $200 monthly. A 1% XRP cashback is available for fuel and EV charging after exceeding the monthly limit. Finally, a 3%, 2%, and 1% XRP cashback is provided for dining, groceries, and other purchases, respectively.
As XRP continues to push for widespread adoption, this Gemini cashback reward program strengthens its utility and encourages greater usability and investments.
Notably, Gemini isn’t the only crypto exchange embracing XRP in its rewards programs. Platforms like WhiteBIT and Bit2Me have also introduced similar programs. By offering an XRP cashback, Gemini and other crypto exchanges can make crypto more accessible, encourage faster adoption, and reinforce XRP’s role as a digital payment solution.
How To Participate In Gemini’s XRP Cashback
Gemini has specified that users interested in earning XRP rewards from Gemini’s cashback program must first qualify for the exchange’s Credit Card, which depends on their credit score. Approved applicants must secure their cards by June 30, 2025, to participate in the promotional offer.
The crypto exchange also stated that new cardholders could earn up to $200 in XRP cashback if they spend at least $3,000 within the first 90 days. Once earned, the XRP reward will be automatically deposited into their trading accounts on Gemini, enabling users to hold, trade, or sell whenever they wish. The Credit Card also comes with no extra annual, exchange, or foreign transaction fees, allowing crypto users to grow their portfolios continually.
Featured image from SCMP, chart from TradingView
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
Strategic Move for Trump Family in Crypto
Marathon Digital to Sell $2 Billion in Stock to Buy Bitcoin
Don’t Fall for These Common Crypto Scams
US Macroeconomic Indicators This Week: NFP, JOLTS, & More
This Is How Dogecoin Price Reacted To Elon Musk’s Comment
Ethereum Is ‘Completely Dead’ As An Investment: Hedge Fund
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Ethereum24 hours agoEthereum Analyst Eyes $1,200-$1,300 Level As Potential Acquisition Zone – Details
-
Ethereum23 hours agoWhales Accumulate 470,000 Ethereum In One Week – Bullish Momentum Ahead?
-
Bitcoin24 hours agoGold Keeps Outperforming Bitcoin Amid Trump’s Trade War Chaos
-
Regulation20 hours agoJapan Set To Classify Cryptocurrencies As Financial Products, Here’s All
-
Altcoin23 hours ago
Analyst Reveals Why The XRP Price Can Hit ATH In The Next 90 To 120 Days
-
Market22 hours ago3 Token Unlocks for April: Parcl, deBridge, Scroll
-
Market19 hours agoTop 3 Made in USA Coins to Watch This Week
-
Market18 hours agoSolana (SOL) Price Risks Dip Below $110 as Bears Gain Control
✓ Share: