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Leading cryptocurrency exchange Binance announced today that it will be removing certain liquidity pools. The process for the removal of Binance’s liquidity pools is set for completion by December 6. Prominent cryptocurrencies are among those whose liquidity pools are being removed, including Solana, MATIC, Avalanche, Shiba Inu, and Bitcoin Cash.
Binance Delisting Major Liquidity Pools
Binance made an official announcement on November 29, revealing its plan to discontinue certain liquidity pools on Binance Liquid Swap. Binance emphasized that it will remove important liquidity pools such as BCH/BNB, SOL/BNB, AVAX/USDT, DOT/BNB, BCH/USDT, MATIC/BTC, SHIB/DOGE, TRX/USDT, and USDC/USDT. The complete list of removed liquidity pools is as follows:
AAVE/BNB, AAVE/ETH, AAVE/USDT, AVAX/USDT, BCH/BNB, BCH/USDT, CAKE/USDT, CHZ/USDT, COMP/BTC, DOT/BNB, DUSK/USDT, DYDX/BTC, DYDX/USDT, EDU/BTC, FIL/USDT, FTM/USDT, GALA/USDT, GMT/BTC, GMT/USDT, HOOK/BTC, ICP/USDT, INJ/BNB, MANA/USDT, MATIC/BTC, NEAR/BTC, NEO/USDT, RUNE/USDT, SHIB/DOGE, SOL/BNB, TRX/USDT, USDC/USDT, VET/BTC, VET/ETH
The exchange stated that users will not be able to add liquidity to the mentioned pools from 07:00 Turkey time on December 4. Additionally, it was mentioned that users holding positions in the above liquidity pools will have their crypto assets automatically transferred to their spot wallets on December 6.
Purpose of the Move
Binance’s announcement also included the purpose of this move. The exchange stated that it periodically reviews listed liquidity pools to concentrate liquidity and provide better transaction prices to its users. This move is said to particularly provide an optimized trading experience in the crypto exchange.
The exchange also mentioned in its statement that the removal of the above-mentioned liquidity pools will not affect the trading of related pairs on Binance spot transactions.
Despite facing significant challenges recently, cryptocurrency exchange Binance continues to operate without interruption. Particularly, today’s news from the Philippines and Thailand points to the challenges faced by the exchange, but Binance continues its efforts to maintain the highest level of customer experience, which is a positive sign for the exchange.
Binance CEO Richard Teng made a statement today, mentioning that product development at Binance follows five fundamental principles. He emphasized that these five principles are simplicity, trust, transparency, innovation, and most importantly, community.
- Binance removes select liquidity pools.
- Move aims to concentrate liquidity.
- Trading experience on Binance optimized.
