Binance Delisting Liquidity Pools
Binance, the world’s largest cryptocurrency exchange, has announced that it will delist 12 liquidity pools, including XRP/BUSD, from Binance Liquid Swap on October 17. The decision to remove these trading pairs is part of Binance’s efforts to improve liquidity and transaction prices for users. However, it is important to note that this delisting does not affect Binance Spot trading.
Impact on XRP Price
The recent delisting spree by Binance may be one of the reasons behind the decline in XRP’s price. The token has dropped to a monthly low of around $0.48, compared to the $0.55 it reached last week after Ripple’s legal victory against the US SEC.
Previous Delisting
Earlier this month, Binance removed 19 additional trading pairs, all of which were BUSD trading pairs. This move aligns with Binance’s plans to discontinue support for BUSD at the beginning of next year.
Hot Take: Binance Continues to Streamline its Offerings
Binance’s decision to delist certain liquidity pools and trading pairs is part of its ongoing efforts to streamline its offerings and provide users with better trading experiences. By concentrating liquidity and reducing slippage, Binance aims to improve transaction prices and overall market quality. While these delistings may have short-term effects on specific tokens like XRP, they are ultimately intended to create a more efficient and robust trading environment for users. As Binance continues to make adjustments and optimizations, it is important for traders to stay updated on any changes that may impact their portfolios.
By
By
By
