Binance has shared news about removing 39 liquidity pools. Among those affected are popular coins like Cardano (ADA), Polygon (MATIC), Bitcoin (BTC), Tron (TRX), and even Pepe Coin (PEPE).
On Monday, Binance, the world’s biggest crypto exchange, revealed that it’s taking out 39 liquidity pools from its Binance Liquid Swap. This affects significant coins and tokens such as Cardano (ADA), Polygon (MATIC), Bitcoin (BTC), Tron (TRX), Avalanche (AVAX), Polkadot (DOT), Filecoin (FIL), and even Pepe Coin (PEPE).
Binance Declares Liquidity Pool Removal
On August 28, the crypto exchange Binance made an official announcement about its intention to remove 39 liquidity pools. Binance routinely adds and removes cryptocurrencies from its services, but recent legal challenges, including lawsuits by the U.S. SEC and CFTC, have compelled these changes due to declining trading volumes and liquidity.
The purpose of this move is to enhance users’ trading experience and optimize factors like price and slippage by consolidating liquidity in specific pools.
Starting September 1 at 04:00 UTC, Binance will eliminate 13 BNB pairs from the liquidity pool. These include 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.
The affected pairs in Bitcoin and Ethereum are ALICE/BTC, APE/BTC, CHZ/BTC, ID/BTC, SUSHI/BTC, SXP/BTC, THETA/BTC, and TRX/ETH.
Binance, a well-known cryptocurrency exchange, has introduced significant changes to its liquidity pools and Bitcoin trading. Here’s a simple breakdown:
Starting today, Binance has removed various liquidity pools, including 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. This means users cannot add new funds to these pools anymore.
For those who currently have assets in these pools, their deposited assets will be returned to their wallets on September 1.
Changes to Zero-Fee Bitcoin Trading:
Binance is also making adjustments to its zero-fee Bitcoin trading, specifically for the BTC/TUSD spot and margin trading pair. This change might lead to a significant market movement, similar to what happened after a similar adjustment in March.
These updates from Binance are part of its ongoing efforts to navigate regulatory changes and enhance user experiences. Stay tuned for further developments in the cryptocurrency world.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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