The world’s largest crypto exchange Binance announced on Friday that it is removing select spot trading pairs. Binance is eliminating some major cryptocurrencies including Cardano (ADA), Polygon (MATIC), BNB, ether (ETH), Litecoin (LTC), Solana (SOL) and XRP. The move will impact the crypto market as Binance is halting crypto trading in Russian rubles.
Binance is suspending major crypto trading pairs
According to an official announcement on November 17, crypto exchange Binance will remove and stop trading many cryptocurrency pairs in Russian rubles (RUB) on November 20. Binance will remove some key spot trading pairs such as ADA/RUB, BNB/RUB, BUSD/RUB, DOT/RUB, ETH/RUB, LTC/RUB, MATIC/RUB, SOL/RUB and XRP/RUB. The move is part of Binance’s plans to completely withdraw from Russia and stop deposits in Russian rubles. Binance recently reached an agreement to sell its entire Russia business to CommEX.
Other cryptocurrencies include ALGO/RUB, ARB/RUB, ARKM/RUB, ARPA/RUB, NEAR/RUB and WLD/RUB.
“To protect users and maintain a high-quality trading market, Binance conducts regular reviews of all listed spot trading pairs and may delist selected spot trading pairs due to several factors, such as poor liquidity and trading volume,” Binance said.
As of November 20th at 03:00 UTC, users will no longer be able to conduct spot trading for the aforementioned cryptocurrency. However, spot trading in other currency pairs is still possible for these cryptocurrencies.
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Main pairs removed from Binance
Binance continues to remove major crypto pairs amid tightening controls and regulatory challenges. The exchange is also gradually delisting the BUSD stablecoin pairs to end support by February 2024.
CoinGape Media previously reported that the exchange has removed some major liquidity pools including Bitcoin (BTC), ether (ETH), BNB, Cardano (ADA), Polygon (MATIC), Solana (SOL), Shiba Inu (SHIB) and Dogecoin (DOGE).
The crypto exchange has also shut down some cryptocurrencies including Cardano (ADA). Polygon (MATIC), avalanche (AVAX), Bitcoin cash (BCH), chain link (SHORTCUT), Shiba Inu (SHIB) and Dogecoin (DOGE) as well as LUNA and LUNC in BUSD margin trading pairs.
Also Read: WisdomTree Revamps Spot Bitcoin ETF; SEC may delay comments
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