Cryptocurrency traders have fewer pairs to punt
The number of spot pairs available for trading on major cryptocurrency exchanges has decreased over the past year. This decline in spot pairs is evident on exchanges such as Binance and its sister company BinanceUS, as well as Coinbase and Kraken. The decrease in spot pairs is likely due to exchanges ending support for certain trading pairs following regulatory actions by the U.S. Securities and Exchange Commission (SEC) against Coinbase and Binance.
Key Points:
- Binance’s monthly spot pairs decreased from 1,420 in January to 1,380 in July
- BinanceUS’s monthly spot pairs decreased from 337 in June to 184 in July
- Coinbase’s monthly spot pairs decreased from 557 in March to 524 in July
- Kraken’s spot pairs decreased from a high of 668 in February to 651 in July
- Regulatory actions by the SEC against Coinbase and Binance likely contributed to the decrease in spot pairs
This decline in spot pairs limits the trading options available to cryptocurrency traders. It is important for traders to stay updated on the available spot pairs on different exchanges in order to make informed trading decisions. While the decrease in spot pairs may be a temporary setback, it highlights the need for regulation and compliance in the cryptocurrency industry.
Hot Take:
The decrease in spot pairs on major cryptocurrency exchanges due to regulatory actions is a reminder of the importance of compliance in the crypto industry. While it may limit trading options in the short term, it sets the stage for a more regulated and secure market in the long run.
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