Binance.US Announces Delisting of Kilo Shiba Inu and Introduction of SHIB/USD Trading Pairs
It is reported that Binance.US announced that it would delist Kilo Shiba Inu (KSHIB) at 7:00 a.m. EST on February 24, and will list SHIB/USD trading pairs. KSH…
It is reported that Binance.US announced that it would delist Kilo Shiba Inu (KSHIB) at 7:00 a.m. EST on February 24, and will list SHIB/USD trading pairs. KSHIB/USD trading pair will be deleted, and all pending KSHIB spot trading orders will be cancelled at 10:00 p.m. EST on February 20. Customers currently holding KSHIB will receive the converted SHIB distribution before February 24, with the ratio of 1 KSHIB to 1000 SHIB. During this transition period, the SHIB/USDT transaction pair will remain available. Binance.US also launched KSHIB and added KSHIB/USD transaction pairs, as well as existing SHIB/USDT and SHIB/USD transaction pairs.
Binance.US will launch SHIB USD transaction pair
Interpretation of the news:
Binance.US has announced its plans to delist Kilo Shiba Inu (KSHIB) by 7:00 a.m. EST on February 24, and introduce SHIB/USD trading pairs. This move will see the KSHIB/USD trading pair being deleted, and all outstanding KSHIB spot trading orders cancelled by 10:00 p.m. EST on February 20. The conversion rate for customers holding KSHIB is set at 1 KSHIB to 1000 SHIB, with SHIB distribution expected before February 24.
In addition, during the transition period, the SHIB/USDT transaction pair will remain accessible. Binance.US also launched KSHIB and added both KSHIB/USD trading pairs and existing SHIB/USDT and SHIB/USD trading pairs. It is worth noting that the delisting and SHIB/USD trading introduction are not unique to Binance.US, as other exchanges have also followed suit.
The decision to delist KSHIB suggests that Binance.US is streamlining its platform, focusing solely on cryptocurrencies that offer sustainable value and long-term potential. KSHIB, on the other hand, is a relatively new and untested cryptocurrency that lacks the widespread use and adoption necessary for it to remain on the platform in the long run.
Furthermore, the introduction of SHIB/USD trading pairs is expected to expand the trading options available to users, offering increased convenience and flexibility. By offering such pairs, Binance.US aims to provide users with real-time access to the SHIB market, allowing them to buy and sell SHIB with direct USD support.
Overall, based on Binance.US’s announcement, it is clear that the company is taking a more selective approach to the cryptocurrencies it supports, prioritizing stability, and long-term growth potential. This move, although disappointing for KSHIB holders, is evidence that only cryptocurrencies with genuine potential are likely to survive in an increasingly competitive market.
In conclusion, Binance.US’s announcement of delisting KSHIB and adding SHIB/USD trading pairs gives users direct USD access to the SHIB market and shows their commitment to offering stable and high-potential cryptocurrencies.
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