Binance will delist 16 digital asset pairs, including Shiba Inu and prominent cryptos from its liquidity pool, for better transaction prices and liquidity concentration, effective October 27.
Key Takeaways:
- Binance, a leading crypto trading platform, is set to remove 17 tokens from its liquidity pools.
- Prominent cryptocurrencies like Shiba Inu, Bitcoin, and Ethereum are among those being delisted.
- Binance aims to enhance liquidity, reduce slippage, and improve transaction prices for users.
- The removal is scheduled for October 27, but affected traders will receive their assets in their spot wallets.
Binance, one of the world’s largest centralized cryptocurrency trading platforms, has made a significant announcement that will impact several prominent tokens in its liquidity pools.
Why’s Binance Removing the Pairs?
In a recent statement, Binance revealed its plan to delist 17 digital asset pairs from Binance Liquid Swap. Notably, these include pairs involving the Binance stablecoin BUSD.
Among the cryptocurrencies facing delisting are BNB, Bitcoin, Cardano (ADA), Ethereum, Litecoin, Shiba Inu, Polygon (MATIC), Solana, Uniswap, Chainlink (LINK), and Dogecoin. Additionally, stablecoin pairs like BUSD/DAI and BUSD/USDT will also be removed.
The removal of these pairs is scheduled for Friday, October 27. While Binance has not provided specific reasons for the delisting, it explained that such actions align with its regular reviews of liquidity pools.
#Binance To Delist 17 Tokens Liquidity Pools Including –#Shiba Inuhttps://t.co/02UEOuwRU0
— XRP-WINS (@EdsonXRPWINS) October 21, 2023
The primary goal is to enhance liquidity, reduce slippage, and offer users more favorable transaction prices, ultimately improving the trading experience.
Traders with positions in the affected pairs will receive their assets automatically in their spot wallets on the removal date. The deposits in the liquidity pools will be calculated based on the prevailing composition ratios.
Users can also choose to withdraw their positions before the removal date, and as of Monday, October 23, adding liquidity for any of the 17 pairs on Binance Liquid Swap will not be possible.
Importantly, the delisting of these tokens from Binance Liquid Swap will not affect their trading on the Binance Spot market. So, while the removal may impact users’ trading experience on the liquidity pool, they can continue trading these tokens on the spot market.
Let’s Review
Binance’s decision to delist 17 tokens, including popular ones like Shiba Inu, Bitcoin, and Ethereum, from its liquidity pools highlights the platform’s commitment to optimizing user experiences.
By focusing on enhancing liquidity and reducing slippage, Binance aims to provide traders with improved transaction prices. While this move may disrupt trading for some users on the liquidity pool, it’s reassuring to know that these tokens will remain tradable on the Binance Spot market, ensuring continued accessibility for traders.
