Binance to delist 4 spot pairs; 3 have trading volumes just 1/567 to 1/2,530 of their corresponding USDT pairs
I. Image facts
The chart compares the 24-hour trading volumes of 8 spot trading pairs. It was generated locally using the values returned by Binance’s official 24hr ticker API, with no changes to any figures. Red indicates the 4 pairs scheduled in the announcement to stop trading at 2026-10-23 03:00 UTC (11:00 Beijing time); green indicates USDT pairs for the same tokens that will continue trading. Data was retrieved at 2026-10-22 12:16 (UTC+8) and covers a rolling 24-hour window, not a calendar day. This is a data chart, not a screenshot of the announcement page.
II. Key evidence
1. On 2026-10-20, Binance announced that it would remove the BONK/FDUSD, JUP/FDUSD, LDO/FDUSD, and WAL/BNB spot trading pairs at 2026-10-23 03:00 UTC, and also terminate spot trading bot services for these pairs. The stated reason was that, following periodic reviews, the pairs were found to have poor liquidity, low trading volume, and other issues.
2. Raw API values: BONKFDUSD had a 24-hour trading volume of 4,003 FDUSD, JUPFDUSD 1,482 FDUSD, and LDOFDUSD 4,416 FDUSD. At the same time, BONKUSDT had a volume of 3,176,955 USDT, JUPUSDT 3,750,095 USDT, and LDOUSDT 2,505,633 USDT. The respective multiples are 794x, 2,530x, and 567x.
3. The disparities in the number of trades were similarly large: BONKFDUSD had 119 trades, JUPFDUSD 35, and LDOFDUSD 40, compared with 15,673, 30,510, and 32,209 trades in their respective USDT pairs. WALBNB had just 1 trade in 24 hours, with a volume of 0.03 BNB.
4. At the time of the screenshot, the exchange information API still showed these four pairs as TRADING; the delisting had not yet taken effect.
III. Market interpretation
Facts: The API data is consistent with the announcement’s stated reasons of “poor liquidity” and “low trading volume”: the four delisted pairs were indeed the least active quote channels for these tokens. The announcement also included an easily overlooked note: delisting a trading pair does not affect the token’s tradability on Binance Spot; users can still buy and sell the two assets through other trading pairs. Checking the API confirms that BONK, JUP, and LDO each have USDT, USDC, and TRY pairs, while WAL also has USDT, USDC, and TRY pairs.
Speculation (not fact): One claim is that FDUSD-quoted markets are being phased out across the board. That conclusion is not supported by the evidence so far: Binance Spot has 32 FDUSD-quoted pairs, and this delisting affects only 3 of them; the other 29 continue to trade as usual. Another observable detail is that JUPFDUSD’s last traded price of 0.3341 was 3.9% higher than JUPUSDT’s 0.3214. Stale trades in a thin market can easily produce this kind of discrepancy, so it should not be treated as an arbitrage opportunity.
IV. Counter-checks
Three limitations: First, the 24hr ticker uses a rolling window, so the figures change depending on the time checked; this article reflects only the 12:16 snapshot. Second, low trading volume is just one of the “multiple factors” cited in the announcement. Binance did not specify the weight of each factor, so attributing the entire delisting decision to liquidity would be an overinterpretation. Third, WALBNB is quoted in BNB, so its 0.03 BNB volume cannot be directly compared with the other pairs in dollar terms; it only indicates that the pair was extremely inactive.
Evidence that could overturn the above assessment: If, after the delisting takes effect on 10-23, trading volumes in BONK, JUP, and LDO’s USDT pairs also drop sharply, that would suggest the issue lies with the tokens rather than the quote pairs. If more FDUSD-quoted pairs are removed in batches over the next week or two, the “shrinking quote channel” theory would warrant reassessment.
V. What to watch next
After 11:00 Beijing time on 10-23, check two figures: first, whether the number of FDUSD-quoted pairs in the exchange information API falls from 32 to 29; second, whether JUPUSDT’s 24-hour trading volume remains above $3 million. The first confirms the delisting was implemented; the second indicates whether capital has also moved away.
Sources:
Announcement https://www.binance.com/en/support/announcement/detail/ad54863d7b0446ebae48bbf3b868ee20
24-hour market data https://api.binance.com/api/v3/ticker/24hr
Trading pair status https://api.binance.com/api/v3/exchangeInfo
$BONK $JUP $LDO #币安公告 #现货交易对 #下架 #FDUSD