NEW YORK - Binance, the world's leading cryptocurrency exchange, has announced its decision to delist 15 Russian Ruble (RUB) trading pairs, including those with XRP , ADA, and SOL. The move is set to take effect on November 20 as the company shifts its focus away from the Russian market due to security concerns and low liquidity.
The announcement, made earlier today, follows Binance's strategy to comply with international regulatory standards and aligns with its recent agreement to sell its Russia-based operations to CommEX. Noah Perlman highlighted the importance of compliance as a key factor in their decision to exit the Russian market.
Following the news, immediate market reactions were observed, with XRP experiencing a 5% decrease, ADA a 6% drop, and SOL seeing a sharp 10% fall. Despite these short-term market corrections, investor sentiment towards the Web3 industry remains optimistic. Experts continue to forecast significant growth for cryptocurrencies, with predictions such as SOL potentially reaching a price of $1,000.
For those looking to understand ADA's future movements better, Binance has provided an informative video resource aimed at cryptocurrency enthusiasts. As the exchange turns its attention towards global markets that are more supportive of Web3 industry growth, it remains to be seen how this strategic pivot will influence the broader cryptocurrency landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.