Binance is streamlining liquidity pools and ending support for select Investing.com crypto pairs

© Reuters.

In a strategic move to optimize the trading experience, Binance has announced the deprecation of multiple liquidity pools for its Binance Liquid Swap service. The affected liquidity pairs, including AVAX/USDT, BCH/USDT, DOT/BNB, , SHIB/DOGE, , TRX/USDT and USDC/USDT and will be removed from the platform by December 6th, with the aim of concentrating liquidity and reducing slippage for users.

As of Sunday, December 4th at 04:00 UTC, users will no longer be able to add funds to the affected pools. Subsequently, Binance will initiate an automatic withdrawal process on Tuesday, December 6th, transferring the assets from the discontinued pools directly to users' spot wallets.

This decision reflects Binance’s broader strategy to streamline its offerings and improve market efficiency. The move is also in line with the exchange's plan to end support for the BUSD stablecoin by February 2024. Previous moves by Binance saw the removal of other major cryptocurrency pools such as BTC and ETH as well as FTM in October.

The change is expected to impact liquidity providers who benefit from transaction fees and BNB rewards. However, Binance’s approach aims to ensure better transaction prices for its broader user base by increasing liquidity concentration.

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