"Perhaps it's very tight because Binance wants to clear trading pairs that have no potential."
The giant cryptocurrency exchange Binance plans to delist several major cryptocurrencies, including Ethereum (ETH), Ripple (XRP), Solana (SOL), Cardano (ADA), Polkadot (DOT), Chainlink (LINK), Polygon (MATIC), Litecoin (LTC) and Bitcoin Cash (BCH) before December 22, 2023.
There is no denying that Binance Liquid Swap allows users to provide liquidity in pools to become liquidity providers including earning transaction fees and BNB rewards, but it will still stop certain liquidity pools on its platform.
The string, Binance will remove several liquidity pools such as ADA/ETH, ADA/USDT, BCH/BTC, DOT/BTC, DOT/USDT, ETH/DAI, LINK/ETH, LINK/USDT, LTC/BNB, LTC/BTC , LTC /ETH, LTC/USDT, MATIC/USDT, SOL/BTC, SOL/USDT, XRP/BNB, XRP/BTC and XRP/ETH.
Other liquidity pools are AAVE/ETH, ARB/BTC, FIL/BTC, MANA/BTC, SAND/BTC, UNI/BNB, UNI/BTC and VET/USDT.
Explained further, users will not be able to add liquidity in the above liquidity pools from December 18, 2023 while those who have positions will automatically receive crypto assets deposited in their spot wallet.
According to Binance, its team periodically reviews the listed liquidity pools to concentrate liquidity, reduce slippage* and provide better transaction prices to its users in order to ensure an optimized trading experience on the crypto exchange.
*Refers to the difference between the expected and actual results of a trade
It was recently reported that Binance is delisting MATIC, SOL, BCH, DOT, Tron (TRX), Shiba Inu (SHIB) and Avalanche (AVAX) on December 6, 2023 as part of a strategy to completely end support of the BUSD stablecoin by February 2024.
