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Binance Will Remove 19 Trading Pairs on October 6: What Should You Know?

Binance Will Remove 19 Trading Pairs on October 6: What Should You Know?

Binance, one of the world’s leading cryptocurrency exchanges, has announced its decision to remove 19 trading pairs on October 6. This move has generated interest in the crypto community and carries significant implications for the following cross-margin and isolated margin pairs: AMB/BUSD, DASH/BUSD, FIDA/BUSD, HARD/BUSD, HOT/BUSD, IOST/BTC, NULS/BUSD, PORTO/BUSD, and REQ/BUSD.

The primary reason behind this removal is related to the low liquidity experienced by these trading pairs. Liquidity pertains to the degree of ease with which an asset can be purchased or sold within the market without causing substantial price fluctuations. In cases where trading pairs lack sufficient liquidity, transactions may become more intricate and expensive for participants, leading to a reduction in overall market efficiency.

Binance

BUSD Collateral Impacts?

A key element contributing to this decision is Binance’s prior announcement regarding its intention to stop supporting BUSD (a stablecoin pegged to the US dollar) starting in the first quarter of 2024. All the trading pairs that will be removed are linked to BUSD, suggesting that this action is directly related to the future removal of BUSD from the platform.

This change in Binance’s policy regarding BUSD has led the platform to take proactive measures to adjust its offering of trading pairs and ensure the continuity and quality of its services. While the specific reason for the removal has not been detailed in the announcement, low liquidity and the planned withdrawal of BUSD appear to be key factors that have influenced this decision.

It is important to note that despite the removal of these trading pairs, the underlying tokens will still be available for trading on the Binance Spot platform in other trading pairs. This means that users will not lose access to these assets, but they should consider adjusting their trading strategies based on the new pairs available. Additionally, it is recommended that users review their trading bots linked to the mentioned pairs to avoid significant losses.

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