Binance Exchange reveals reason behind removing 30 trading pairs

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Malta-based Binance exchange, Cryptocurrency Exchange Binance has been putting Tron’s Justin Sun, who is known for his marketing skills to shame. September has been an eventful month for the exchange after several developments ranging from Lending platform to launching Binance.US. In a recent update, the exchange through its official Twitter account revealed that Binance was removing several trading pairs. The tweet read,

Furthermore, a blog post confirmed the same by affirming that the exchange would be removing around 30 trading pairs from its platform. The exchange cited that the reason behind the removal of the trading pairs was to enhance liquidity and user trading experience for other available trading pairs. The trading pairs that have been shown the door were,

“ANKR/PAX, ANKR/TUSD, ANKR/USDC, BCPT/PAX, BCPT/TUSD, BCPT/USDC, BTT/BTC, DENT/BTC, DOGE/PAX, DOGE/USDC, ERD/PAX, ERD/USDC, FTM/PAX, FTM/TUSD, FUEL/ETH, GTO/PAX, GTO/TUSD, GTO/USDC, LUN/ETH, NCASH/BNB, NPXS/BTC, ONE/PAX, ONE/TUSD, PHB/PAX, PHB/USDC, TFUEL/PAX, TFUEL/TUSD, TFUEL/USDC, WAVES/PAX, WIN/BTC.”

Trading for the aforementioned pairs would be terminated from the platform from 30 September 2019 at 8:00 AM [UTC]. Additionally, the blog post revealed that several “project teams” of the exchange also initiated the removal of the trading pairs.

The delisted trading pairs include popular coins like Justin Sun’s BitTorrent[BTT] token. At the time of writing, BTT was seen falling by 9.10% over the last 24-hours while its price stood at $0.0003.

Binance’s Changpeng Zhao commented on the same suggesting that Binance was “consolidating liquidity, not delisting.” CZ further detailed the reason behind removal of the 30 trading pairs. He said,

“On pairing, too low a number, people may have to trade twice to get the coin they want. Too many pairs, liquidity and spread are poor on each pair, and users have to look at many pairs to find the best price. Like many things in life, it’s a balance.”

https://twitter.com/cz_binance/status/1178575428899860480
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