Binance removing unpopular pairs while market is in stalemate
Binance has announced that it will remove several trading pairs, including those of major cryptocurrencies such as Cardano (ADA), Ripple (XRP) and Polygon (MATIC). This change, which has also impacted Shiba Inu (SHIB) token, is set to take effect on June 1, 2023, at 6:00 a.m. UTC.
The announcement specifically targets pairs trading against the Australian Dollar (AUD). The list of affected pairs includes ADA/AUD, XRP/AUD, MATIC/AUD and the recently delisted SHIB/AUD. Other trading pairs that will be removed encompass AUD/BUSD, AUD/USDT, BNB/AUD, BTC/AUD, DOGE/AUD, ETH/AUD and GALA/AUD.
The primary reason for these changes is likely the low volume and relative unpopularity of these trading pairs. It is important to note that this decision does not reflect on the individual cryptocurrencies themselves, such as ADA, XRP or SHIB, but rather on the specific currency pairs in question.
The move follows a recent pattern for Binance, which earlier delisted the SHIB/AUD trading pair. These decisions underscore the exchange’s ongoing strategy to ensure a smooth trading experience for its users by phasing out underperforming trading pairs.
Despite these changes, users will still have the opportunity to trade these assets on other available pairs within the Binance platform. In the case of ADA, XRP and MATIC, this means that the digital assets will continue to be traded against other popular fiat currencies and cryptocurrencies.
However, Binance’s announcement also brings some consequences for those utilizing trading bots. The exchange will terminate trading bot services for the aforementioned trading pairs from the same date. Binance has strongly advised users who have employed trading bots on these pairs to update or cancel their bots before the services cease, to avoid any potential losses.