Binance to delist a number of trading pairs
The cryptocurrency ecosystem is still witnessing a slow consolidation of offerings
Cryptocurrency exchange Binance has announced today that it is delisting a number of digital asset trading pairs from its platform, including some tokens that it had introduced to its own Binance Launchpad Initial Exchange Offering. The changes won’t impact most major projects, obviously, but will include a total of 30 that have not been performing as expected. This is just part of a continual process that will eventually see just a small handful of digital assets remain, just as has transpired with all financial systems throughout history.
According to Binance’s statement on the delisting, the decision was made in order to “improve liquidity and user trading experience,” and that the choice of pairs was “as requested by most project teams.” All pairs have were expected to be deleted as of 8 AM UTC this morning.
The full list includes “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.”
The exchange also introduced a new service today, a market maker program for users who trade more than 1,000 Bitcoin (BTC) each month. It stated in a press release, “We wish to invite top-tier liquidity providers to our Binance.com Market Maker Program,” adding, “If your 30-day trading volumes exceed 1,000 BTC (or can achieve volumes of 1,000 BTC), and have quality market maker strategies, you can immediately join our Market Maker Program. Market Makers can enjoy trading fee reductions, as well as higher API limits.”