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Major cryptocurrency exchange Binance has announced that it will remove two spot trading pairs as part of its ongoing efforts to maintain a high-quality trading environment and protect its users. Accordingly, GNS/BTC and XVG/TUSD trading pairs will be removed from Binance Spot.
GNS/BTC and XVG/TUSD to Be Removed from Binance Spot
Cryptocurrency exchange Binance is preparing to remove the GNS/BTC and XVG/TUSD spot trading pairs. The announcement from Binance indicated that these two spot trading pairs will be removed on March 29th at 06:00 AM (UTC). The removal of these trading pairs will not affect the availability of Gains Network (GNS) and Verge (XVG) on Binance Spot.
Binance stated that the removal of the GNS/BTC and XVG/TUSD spot trading pairs is based on periodic reviews that consider factors such as liquidity and trading volume. The cryptocurrency exchange aims to provide a strong and efficient trading experience for all listed altcoins in this manner.
Users will continue to be able to trade the relevant altcoins, even though the spot trading pairs will be removed from Binance, through other trading pairs offered by the cryptocurrency exchange. This means that users will be able to continue buying and selling the base and quote assets of the removed spot trading pairs through alternative trading options provided by Binance.
Spot Trading Bot Service to Be Discontinued as Well
In addition, Binance will also discontinue the Spot Trading Bot service for the GNS/BTC and XVG/TUSD spot trading pairs simultaneously. Users utilizing the Spot Trading Bots are advised to update or cancel their bots before the services are stopped to minimize potential losses that may arise from the removal of these spot trading pairs.
The removal of a spot trading pair is a routine practice carried out by cryptocurrency exchanges to ensure the integrity and efficiency of their trading platforms. Cryptocurrency exchanges tend to remove trading pairs with low liquidity and trading volume to streamline their offerings and prioritize assets that meet the needs and preferences of their user base.
