Cardano, Shiba Inu, Polygon, and Solana are among the crypto assets to be delisted by Binance.US due to low trading activity.
Based on recent trading activity, Binance.US will remove and cease trading for the following Advanced Trading pairs on March 29, 2023, at 8 p.m. PDT / 11 p.m. EDT.
As per the announcement post, the affected trading pairs are ADA/BUSD, ALGO/BUSD, BUSD/USD, BUSD/USDT, EOS/BUSD, LPT/BUSD, MANA/BUSD, MATIC/BUSD, NEAR/BUSD, OMG/BUSD, SHIB/BUSD, SOL/BUSD, TRX/BUSD, USDC/BUSD, XTZ/BUSD, and ZIL/BUSD.
It added:
We recommend that you carefully review your trades and execute or cancel open orders on impacted Advanced Trading pairs before they are removed from Binance.US. Deposits and withdrawals for BUSD remain available.
The delisting occurred as regulatory action against the token issuer and a scheduled delisting from a major cryptocurrency exchange caused Binance USD’s market cap to drop below $10 billion for the first time in almost two years.
The New York Department of Financial Services instructed stablecoin issuer Paxos to stop creating new Binance USD [BUSD] tokens as of February 21.
In terms of Cardano, its ADA token was recently coupled with the second-largest stablecoin in the world to trade on Binance’s US market. Together with ADA, the stablecoin’s rival Solana [SOL] was also added.
Binance.US noted that the inclusion of the two leading altcoins aims to achieve “scalability, interoperability, and sustainability.” TronWeekly reported the other day.
At the time of writing, ADA was marginally down in the last 24 hours to $0.37. The 7th-ranked altcoin’s market cap stood at $12.8 billion.
Cardano DeFi Surge To New Heights
Despite the lackluster price action, the Cardano network is seeing positive growth.
According to data from pool.pm, the total number of native assets has surpassed eight million and is currently 8,027,363. They were minted on 70,901 different policies. Moreover, 7,511,799 NFTs have been reported based on the same data source.
With 118 projects already launched, there are 1,213 projects developing on Cardano, bringing the total number of transactions on the network to 63 million.
Data from DeFiLlama showed that the ADA-denominated value locked in the Cardano DeFi has risen to new heights of 405.63 million. As of now, Cardano DeFi has a total value locked in dollars of $135 million, the highest in 2023.