Binance and its elimination of currency pairs

Binance and its elimination of currency pairs


We all know Binance and its power in the crypto ecosystem. In order to establish a more stable market, Binance usually eliminates different currency pairs for trading. Coins that, due to their very low trading volume, do not have sufficient liquidity.

On October 4, the ACE/FDUSD, FIL/BNB, OP/BNB, and TRB/FDUSD pairs were eliminated. Users can continue to trade with these coins on Spot.

I think it is good news to eliminate coins that do not meet certain conditions, protecting the user from projects with little movement and liquidity. Although, on the other hand, it is an interference in the natural evolution of coins. Its elimination from the largest Exchange by business volume is news that investors can interpret as the end of a project. In fact, these coins have suffered some quality since Binance announced its intention to eliminate them from its trading markets.

And these are not the only ones that will be eliminated. In a news item published a few days ago, Binance announced that it was putting 10 cryptocurrencies in danger of being eliminated: "Travala (AVA), Chiliz (CHZ), Enjin Coin (ENJ), IOTA (IOTA), Lisk (LSK), Metal DAO (MTL), Orion (ORN), Self Chain (SLF), Solar (SXP) and Vanar Chain (VANRY)".

As an investor who has been in the crypto market for a short time, I would be very cautious when investing in these currencies. Not because they are bad projects, but if Binance distrusts them, they have their reasons and they surely know much more about this world than I do.

 

But this is just my opinion, everyone has to do their research and make the decision they think is best. I am just expressing my opinion.

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Ana69
Ana69

I am passionate about writing and reading. I am excited to be part of this community, learn from your writings and share mine. I am open to comments and suggestions.


Cryptocurrencies Investments
Cryptocurrencies Investments

My little blog where I express my ideas about cryptocurrencies and investments in general

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