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Binance exchange, the biggest trading platform in the world by volume, has announced it will be delisting a total of 12 trading pairs from its Liquidity Swap offering.
According to the trading behemoth, the liquidity pairs that feature XRP/BUSD also include BEL/USDT, FTM/BUSD, FUN/USDT, GMT/BNB, GMT/ETH, HFT/USDT, IDEX/USDT, LEVER/USDT, MAGIC/BTC, MANA/BUSD and OP/BUSD pairs, respectively.
It is not unusual for Binance exchange or even other trading platforms to delist assets that are generally underperforming. In Binance's case, it claimed that these delisted trading pairs do not currently meet its requirement for sustained support on its Liquidity Swap offering. The exchange highlighted that impacted users will have until Oct. 17 to either close or settle all opened positions.
The firm reassured readers that the delisting of the trading pools on the Binance liquidity swap does not impact the trading of these pairs on its spot markets, where applicable. While the exchange said users will be able to trade other supported pairs on Binance Swap, for the delisted ones, new liquidity additions will be barred as of Friday, Oct. 13.
As the biggest digital currency trading outfit, Binance is known to conduct periodic sanitation of its platform. As reported earlier by U.Today, one of the latest pairs to be delisted from the exchange are the XRP and Dogecoin (DOGE) pairs that were taken off the platform as a result of a recent regulatory sweep.
The ongoing legal clash between Binance and the United States Securities and Exchange Commission (SEC) has also fueled the delisting of a number of trading pairs from the platform to avoid complicating its regulatory woes.
In all, Binance is always striving to be compliant in each of the markets it operates in and, as such, limits its supported trading pairs to what is permitted by law.
About the authorGodfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news, Cryptonews and Coingape, among others.