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The world’s largest crypto exchange Binance on Friday has removed selected spot trading pairs after careful review. Binance is taking down some major crypto including Cardano (ADA), Polygon (MATIC), BNB, Ethereum (ETH), Litecoin (LTC), Solana (SOL), and XRP. The move will impact the crypto market as Binance ceases crypto trading in the Russian ruble as part of its complete exit from Russia.
Binance Ceases Major Crypto Trading Pairs
Crypto exchange Binance is to remove and cease trading of many crypto in Russian Ruble (RUB) pairs on November 20, as per an official announcement on November 17. Binance will remove some major spot trading pairs such as ADA/RUB, BNB/RUB, BUSD/RUB, DOT/RUB, ETH/RUB, LTC/RUB, MATIC/RUB, SOL/RUB, and XRP/RUB. The move is part of Binance’s plans to completely exit Russia and cease deposits in the Russian Ruble. Binance recently entered into an agreement to sell the entirety of its Russia business to CommEX.
Other crypto include ALGO/RUB, ARB/RUB, ARKM/RUB, ARPA/RUB, NEAR/RUB, and WLD/RUB.
“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 said.
Users will not be able to do spot trading for the above-mentioned crypto from November 20 at 03:00 UTC. However, spot trading remains available for these crypto in other pairs.
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Major Pairs Removed by Binance
Binance continue to remove major crypto pairs amid heightened scrutiny and regulatory challenges. The exchange is also gradually delisting BUSD stablecoin pairs to end support by February 2024.
CoinGape Media earlier reported that the exchange removed some major liquidity pools including Bitcoin (BTC), Ethereum (ETH), BNB, Cardano (ADA), Polygon (MATIC), Solana (SOL), Shiba Inu (SHIB), and Dogecoin (DOGE).
The crypto exchange also took down some crypto including Cardano (ADA), Polygon (MATIC), Avalanche (AVAX), Bitcoin Cash (BCH), Chainlink (LINK), Shiba Inu (SHIB), and Dogecoin (DOGE), as well as LUNA and LUNC in BUSD margin trading pairs.
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