Binance Delisting AI Crypto Spot Trading Pairs

Binance Delists AI Crypto Trading Pairs: Impact on Ocean Protocol and SingularityNET

Binance, a prominent digital asset exchange, has made the significant announcement of delisting AI crypto spot trading pairs for Ocean Protocol (OCEAN) and SingularityNET (AGIX) on July 1, 2024, at 3:00 a.m. UTC. This decision stems from Binance's backing of the integration of these tokens into Fetch.ai (FET) under the new project name Artificial Superintelligence Alliance. This move will result in the cessation of trading, deposits, and withdrawals for OCEAN and AGIX, and the termination of Trading Bot services.

The affected trading pairs encompass AGIX/BTC, AGIX/FDUSD, AGIX/TRY, AGIX/USDT, OCEAN/BNB, OCEAN/BTC, OCEAN/TRY, and OCEAN/USDT. Binance Futures will also close and settle all positions in the OCEANUSDT and AGIXUSDT USDⓈ-M Perpetual Contracts on June 25, 2024, at 9:00 a.m. UTC, after which the contracts will be delisted.

Key Takeaways

• Binance's decision to delist AI crypto spot trading pairs for Ocean Protocol (OCEAN) and SingularityNET (AGIX) on July 1, 2024.
• Trading, deposits, and withdrawals for OCEAN and AGIX will cease on July 1, 2024, at 3:00 a.m. and 3:30 a.m. (UTC), respectively.
• Binance supports the merge of OCEAN and AGIX tokens into Fetch.ai (FET) under the new project name Artificial Superintelligence Alliance.
• Specific delisted trading pairs include AGIX/BTC, AGIX/USDT, OCEAN/BNB, and OCEAN/USDT among others.
• Binance Futures will automatically settle and delist OCEANUSDT and AGIXUSDT contracts on June 25, 2024, at 9:00 a.m. (UTC).

Analysis

Binance's delisting of AI crypto pairs for Ocean Protocol (OCEAN) and SingularityNET (AGIX) is in line with their backing of a merger into Fetch.ai (FET), directly impacting traders and investors. In the short term, this move may lead to market volatility and potential losses for token holders. However, in the long term, the consolidation under Artificial Superintelligence Alliance could possibly streamline AI crypto investments, contributing to market stabilization. Additionally, this decision may influence other exchanges' policies on AI crypto listings, subsequently affecting broader market dynamics.

Did You Know?

• Ocean Protocol (OCEAN): It functions as a decentralized data exchange protocol, facilitating secure sharing and monetization of data for individuals and businesses while upholding privacy and control. The protocol leverages blockchain technology to ensure data integrity and transparency.
• SingularityNET (AGIX): This blockchain-based platform enables the creation, sharing, and monetization of AI services globally, with the aim of democratizing access to AI technology and allowing anyone to create, share, and profit from AI algorithms and services.
• Fetch.ai (FET): The platform integrates AI and blockchain to establish smart infrastructure across diverse industries. It enables the development of autonomous economic agents capable of executing tasks and making decisions autonomously, thus enhancing efficiency and optimization across various sectors.