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The world’s largest crypto exchange Binance on Wednesday announced the removal of more Cardano (ADA) and Polygon (MATIC) pairs. The crypto exchange will remove and cease trading of 20 crypto pairs against BUSD and BIDR. Binance delisting and removing of Cardano and Polygon spot, margin, and perpetual trading pairs increased after the SEC and CFTC lawsuits.
Binance Announces Cardano, Polygon, and Other Crypto Removal
Crypto exchange Binance in an official announcement on September 6 revealed the plan to remove and cease trading on 20 spot trading pairs. Binance periodically adds and removes crypto from its products and services. However, the U.S. SEC and CFTC lawsuits and regulatory challenges have forced Binance to make these changes more frequently.
“To protect users and maintain a high quality trading market, Binance conducts periodic reviews of all listed spot trading pairs, and may delist selected spot trading pairs due to multiple factors, such as poor liquidity and trading volume.”
Binance to remove Cardano (ADA), Polygon (MATIC), and Zilliqa (ZIL) against BIDR pairs on September 8 at 09:00 UTC.
In addition, the exchange will delist AUDIO/BUSD, BAT/BUSD, BSW/BUSD, CITY/BUSD, CVX/BUSD, FORTH/BUSD, JUV/BUSD, MOB/BUSD, OGN/BUSD, OMG/BUSD, PLA/BUSD, POLS/BUSD, REI/BUSD, RSR/BUSD, SCRT/BUSD, and TVK/BUSD on September 8.
Users need to update or cancel their spot trading bots before the cessation of these pairs to avoid any potential losses. It also suggest users to trade to convert their BUSD to FDUSD stablecoin before February 2024.
On August 17, Binance delisted Cardano (ADA) And Polygon (MATIC) perpetual contacts in BUSD pairs. Moreover, the exchange removed Cardano (ADA), Polygon (MATIC), and 37 other liquidity pools on September 1.
Meanwhile, Binance plans to make changes to its zero-fee Bitcoin trading for BTC/TUSD spot and margin trading pair. The move may likely trigger another major selloff as trading volumes will take a hit similar to a 90% trading volume fall after the termination of zero-fee trading by Binance in March.
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