The world’s largest crypto exchange, Binance, announced the removal of 39 liquidity pools from its Binance Liquid Swap on Monday. The main coins and tokens removed from the liquidity pools are Cardano (ADA), Polygon (MATIC), Bitcoin (BTC), Tron (TRX), Avalanche (AVAX), Polkadot (DOT), Filecoin (FIL) and Pepe Coin (PEPE). ,
Binance announces the removal of the liquidity pool
Crypto exchange Binance announced in an official announcement on Aug. 28 that it plans to remove 39 liquidity pools. Typically, Binance regularly adds and removes cryptocurrencies from its products and services. However, lawsuits from the US SEC and CFTC, as well as regulatory challenges, have forced Binance to make these changes as trading volume and liquidity dropped significantly.
“We regularly review listed liquidity pools to concentrate liquidity for our users and ensure an optimized trading experience, price and slippage.”
Binance will remove 13 BNB pairs from the liquidity pool at 04:00 UTC on September 1st. These are ADA/BNB, MATIC/BNB, FIL/BNB, AVAX/BNB, TRX/BNB, CHZ/BNB, CTSI/BNB, GALA/BNB, NEO/BNB, SUSHI/BNB, SXP/BNB, THETA/BNB, and ICP/BNB.
Pairs in Bitcoin and Ethereum pairs are ALICE/BTC, APE/BTC, CHZ/BTC, ID/BTC, SUSHI/BTC, SXP/BTC, THETA/BTC and TRX/ETH.
Other liquidity pools include BTC/TUSD, DOT/BUSD, FRONT/BUSD, AVA/USDT, ENJ/USDT, KDA/USDT, LIT/USDT, PAXG/USDT, PEPE/USDT, SANTOS/USDT, TKO/USDT and TLM /USDT.
Starting today, users will no longer be able to add liquidity to the above liquidity pools. Also, on September 1st, users who have positions in the above liquidity pools will receive their deposited assets in their wallets.
Meanwhile, Binance is planning to make changes to its no-fee bitcoin trading for the spot and margin BTC/TUSD trading pair. The move could likely spark another major selloff, as trading volume will suffer a similar decline as a 90% drop in trading volume after Binance suspended fee-free trading in March.
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