Hello Everyone,
I am good and I hope that you are doing well. Today in this video I have talked about HIVE/BUSD delisting from Binance Margin. This is an update that might require some action from you if you are holding some open order for sale or buy and in that case, you need to take the right action before the last date. This delisting is going to happen on the 24th of August so now you have almost three days in case you fall in the category where you are supposed to take some action.
I have observed that these days this exchange is trying to remove Busd from most of the pairs which is its stablecoin but it is managed by a 3rd party. There was some issue in the past and because of that they stopped minting this stable coin further but maybe they are still planning something else and for that reason, they have also decided to delist most of the pairs. I see some notifications for delisting and these days it is quite frequent when they are trying to take out the busd. It may be they are part of regular operations but as a user, we need to be vigilant and keep an eye if in case we are holding busd on any pair in my opinion it is recommended to take out the holding from BUSD and convert to other stablecoins.
Many exchanges perform this type of action on their platform to ensure that they have pairs and coins that are performing but it seems like the exchange has some different planning this time because they are mostly focused on removing their stable coins from most of the pairs. There will be no impact on the hive coin so you need not worry if you have a hive in any different pair.
Today I saw that the BNB token price is also very low and there is a bigger drop in the market but I'm not sure what is the region behind and probably this could be due to the market sentiments that we see these days. We are already in the bear market but sometimes there is a bigger crash that affects the market in a way that the Bitcoin itself drops by a bigger percentage or maybe a few thousand dollars.
I still believe that Benance as an exchange will be a preferred platform for many users because of various reasons including that it has got most coins listed along with higher liquidity. I know that during the bear market, we see a lot of negative news around and because of that the market is also affected many times and maybe the current situation can be an example of the same situation that I just discussed. this time is not to get panicked instead it is the time to keep a close tab on the market to see if there is some good opportunity and if we can bag some valuable tokens which are solid by its fundamentals or if we have been changing for some time.
There are multiple options available on the exchange including USDP USDC and even TUSD which are the same as BUSD which is backed by our dollars.
I hope you like this video and that the information I have provided is helpful for you.
Thank you so much for your time
Have a great day