Tue, Aug 29, 2023 ▪
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Do you have liquidity on Binance Liquidity Swap? Binance has just decided to remove a total of 39 liquidity pairs from its Binance Liquidity Swap platform. The list includes PEPE coin pairs, despite the cryptocurrency's astronomical price rise in 2023. Back to the details of this decision.
Shortly:
- Binance is withdrawing 39 pairs from its liquidity swap, including PEPE Coin and BTC.
- The measure comes into force on September 1st.
- The assets are returned to their owners.
39 crypto trading pairs have been removed from Binance Liquidity Swap
In an official announcement published on Monday, August 28, CZ exchange announced the upcoming removal of a number of liquidity pools, namely 13 BNB pairs, 7 BTC pairs, 1 ETH pair, 9 USDT- pairs, 2 BUSD pairs and 1 TUSD pair.
Binance notes that the measure will take effect on September 1st at 4:00 a.m. (GMT). In the meantime, users will no longer be able to add liquidity to these pools. The exchange assures that the removal of the listed liquidity pools will not impact trading of the corresponding pairs on Binance Spot.
The platform has also informed users who still hold positions in these pools that the assets will be sent to them in their spot portfolios on September 1st.
🚨 Binance is shaking up liquidity pools! 🔁
Binance is dropping 39 liquidity pools including #Cardano, Polygon, #BTC, Tron and Pepe Coin. Regulatory challenges lead to strategic adjustments and impact trading dynamics 📉📈
– Riya – Cardano ₳ (@stakeada_) August 28, 2023 Binance drops 39 liquidity pools
The crypto PEPE coin was removed from the Binance Liquidity Swap after a 2,200% surge
The list of cryptos affected by Binance's decision includes Bitcoin (BTC), Cardano (ADA), Polygon (MATIC), de Tron (TRX), Polkadot (DOT), Avalanche (AVAX), Filecoin (FIL), and Pepe Coin (PEPE) . .
For the record, PEPE was one of the most profitable tokens of 2023. After its launch in April, it achieved an extraordinary growth of 2,200% in just three weeks, earning it a listing on renowned exchanges such as Binance and BitMex. Unfortunately, the price of PEPE Coin has since collapsed by over 80%.
According to Binance, a decision was made to improve the crypto trading experience
Binance's decision to clean up its Binance Liquidity Swap is explained by the impact of the recent SEC and CFTC litigation against Binance in the US. Since these lawsuits began, trading volume and pool liquidity have declined significantly.
In its official announcement, Binance explains: “The exercise follows a regular review that allows Binance to concentrate liquidity for its users and ensure an optimized trading experience, price and slippage.”
The exchange also announced its intention to change its zero-fee trading offering for the BTC/TUSD spot and margin trading pair. Hopefully this decision does not trigger another period of massive selling.
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As a graduate of Sciences Po Toulouse and holder of a blockchain consultant certification from Alyra, I joined the Cointribune adventure in 2019. Convinced of blockchain's potential to transform many sectors of the economy, I took on the commitment to raise awareness and educate the public about this ever-evolving ecosystem. My goal is to give everyone the opportunity to better understand blockchain and take advantage of the opportunities it offers. Every day I strive to provide an objective analysis of current events, decipher market trends, convey the latest technological innovations, and shed light on the economic and social issues of this ongoing revolution.
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The views, thoughts and opinions expressed in this article belong solely to the author and should not be construed as investment advice. Do your own research before making any investment decisions.
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