TL;DR
- Binance will remove 12 liquidity pools, including XRP/BUSD, from Binance Liquid Swap on October 17 and move the assets to users' spot wallets.
- The move aims to improve liquidity and transaction prices; it has no impact on Binance spot trading. The price of XRP may have fallen in connection with the delisting.
- Previously, Binance removed 19 pairs, mostly involving BUSD, in line with plans to withdraw BUSD support next year.
Binance removes 12 trading pairs
The world’s largest cryptocurrency exchange – Binance – announced that it will delist a dozen Binance Liquid Swap liquidity pools on October 17th. Affected trading pairs include XRP/BUSD, MANA/BUSD, OP/BUSD, BEL/USDT, FTM/BUSD, FUN/USDT, GMT/BNB, GMT/ETH, HFT/USDT, IDEX/USDT, LEVER/USDT and MAGIC /BTC.
The company did not provide an exact reason for its move, but stated that it “regularly reviews listed liquidity pools to concentrate liquidity, reduce slippage, and provide users with better transaction prices.”
It was also assured that affected customers will automatically receive their deposited assets in their spot wallets on October 17th.
The organization then explained that the removal of the liquidity pools would not affect trading of the corresponding pairs on Binance Spot.
The crypto giant's recent delisting action could be a reason why the price of XRP continues to fall. The token fell to a monthly low of around $0.48 (per CoinGecko): a significant drop compared to the nearly $0.55 reached last week following Ripple's second court victory against the US Securities and Exchange Commission.
XRP price, source: CoinGecko
The previous delisting
Earlier this month, Binance removed 19 additional trading pairs including ANKR/BUSD, DATA/BUSD1INCH/BUSD, POLYX/BUSD, RARE/BUSD, SLP/BUSD, SUSHI/BUSD, and more.
“To protect users and maintain a high-quality trading market, Binance conducts regular reviews of all listed spot trading pairs and may delist selected spot trading pairs due to several factors, such as poor liquidity and low trading volume,” the company explained .
It is worth noting that these are all BUSD trading pairs and the exchange has done this before disclosed that it will end support for the stablecoin early next year.
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