Liquid Swap

Swap

Binance, a prominent player in the world of cryptocurrency exchanges, has unveiled plans to eliminate specific liquidity pools from its platform.   
The company's official statement reveals that this move is set to take effect on September 1, 2023, and will have an impact on nearly 40 trading pairs, including well-known ones like PEPE and ADA.   
The liquidity pools that are scheduled for removal from Binance's Liquid Swap encompass a diverse range, such as ADA/BNB, ALICE/BTC, APE/BTC, and many more.   
This step is the result of Binance's routine review process, aimed at enhancing the user experience and optimizing trading conditions, prices, and slippage.   
Binance has made it clear that users currently holding positions within the liquidity pools affected by this change will receive their deposited assets directly into their spot wallets at 04:00 (UTC) on the specified date.   
This is part of the company's effort to ensure a seamless transition for its users.   
Notably, PEPE stands out on the list due to its impressive adoption rate since its launch. This particular cryptocurrency gained significant attention and emerged as one of the most profitable tokens in 2023, shortly after its introduction in April. PEPE was even listed on major exchanges like Binance and BitMEX.   
Its value skyrocketed by an astounding 2,200% in less than three weeks, as indicated by TradingView data. However, the price of PEPE subsequently retraced, resulting in an 80% loss of the earlier profits.   
Binance has clarified that the removal of these liquidity pools will not hinder trading of the corresponding pairs on Binance Spot, where applicable.   
Additionally, users will still have access to other liquidity pools accessible on Binance Liquid Swap. However, it's important to note that starting at 06:00 (UTC) on September 28, users will no longer be able to add liquidity to the affected pools. This marks a significant change in the landscape of cryptocurrency trading on the Binance platform.  
The post <a rel="noopener noreferrer nofollow" href="https://optimisus.com/news/crypto-news/binance-announces-removal-of-selected-liquidity-pools-including-pepe-and-ada-pairs/">Binance Announces Removal of Selected Liquidity Pools Including PEPE and ADA Pairs</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://optimisus.com">Optimisus</a>.

Binance Announces Removal of Selected Liquidity Pools Including PEPE and ADA Pairs

Optimisus

Other articles published on Aug 28, 2023

Is Ethereum Better than Bitcoin?

Indian PM Modi Calls for Global Rules on Cryptocurrency Regulation

Crypto Exchanges in South Korea To Hold Minimum Reserves Starting September

Blockchain Data Shows Massive Inflow of Dogecoin Into Bitcoin Spark Presale

Bitcoin Miners Struggle as Profit per Terahash Reaches Record Lows

STX Blockchain: Exploring Top NFTs Emerging on the Stacks Chain

Join our free newsletter for daily crypto updates!