Got cash on Binance Liquidity Swap? Binance has just decided to remove a total of 39 liquidity pairs from its Binance Liquidity Swap platform. In the list, we find the PEPE Coin pairs, despite the astronomical growth of the crypto price in 2023. Back on the details of this decision.
In short :
• Binance withdraws 39 pairs from its Liquidity Swap, including PEPE Coin and BTC.
• The measure takes effect on September 1.
• Assets will be returned to their owners.
39 crypto trading pairs removed from Binance Liquidity Swap
In official announcement published this Monday, August 28the CZ exchange announced the imminent removal of a set of liquidity pools, namely 13 BNB pairs, 7 BTC pairs, 1 ETH pair, 9 USDT pairs, 2 BUSD pairs and 1 TUSD pair.
Binance notes that the measure will take effect from the 1er September at 4:00 a.m. (UT). In the meantime, users will no longer be able to add liquidity to these pools. The exchange reassures that the removal of the listed liquidity pools will not affect the trading of the corresponding pairs on Binance Spot.
The platform also informed users still holding positions in these pools that the assets will be sent to them in their spot portfolio on the date of 1er september.
Crypto PEPE Coin Removed From Binance Liquidity Swap After 2,200% Rise
On the list of cryptos affected by Binance’s decision, we find among others Bitcoin (BTC), Cardano (ADA), Polygon (MATIC), de Tron (TRX), Polkadot (DOT), Avalanche (AVAX), Filecoin (FIL ), but also Pepe Coin (PEPE).
For the little reminder, PEPE was one of the most profitable tokens of 2023. After its launch in April, it had reached an extraordinary growth of 2,200% in three weeks, which earned it a listing on exchanges renowned such as Binance and BitMex. Unfortunately, since then, the price of PEPE Coin has totally dropped with a drop of more than 80%.
A decision made to improve the crypto trading experience according to Binance
Binance’s decision to clean up its Binance Liquidity Swap is due to the impact of recent legal battles by the SEC and CFTC against Binance in the US. Since the beginning of these lawsuits, the volume of transactions and the liquidity of the pools have been considerably reduced.
In its official announcement, Binance indicates “We periodically review the listed liquidity pools to optimize liquidity allocation for our users and ensure an optimized trading experience, price and slippage.”
The exchange also announced plans to change its fee-free trading offering for the BTC/TUSD spot and margin trading pair. It is hoped that this decision will not trigger another episode of massive selling.
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