Stablecoins Affected In the Binance Cleansing

3 min reading

Binance supports currently almost 600 currency pairs. Now, however, the exchange decided to reduce this list, which will affect, among others, stablecoins.


Big cleansing

First of all, the decision to remove thirty selected currency pairs is based on concerns about the lack of liquidity of specific tokens. Altcoin markets are becoming increasingly uncertain. Their value is becoming more volatile, and as a result of the risk it brings, investors are no longer interested in them.

What is interesting is the fact, that Binance gets rid of several pairs of tokens, which it itself made available under Binance Launchpad, a platform created for the Initial Exchange Offering (IEO) process, that is a form of the first public offer for cryptocurrencies. The removed pairs include BitTorrent (BTT), Elrond (ERD) and Harmony (ONE). The first case is especially surprising, as it was a project that Binance seemed to believe in and support from the very beginning. In addition, currency pairs with stablecoins such as USD Coin and TrueUSD have been removed from the exchange.

It is worth noting that Binance does not get rid of the selected coins completely. It is cleaning among selected pairs of tokens, in other pairs they will still be available on the exchange.

 

Binance's development

All activities of the Binance cryptocurrency exchange are undertaken as part of its global development. The American version of the exchange, Binance.US, is already active and since  its offer is still under development, with time it will be getting richer.

It is, first and foremost, essential to value the existing altcoins. The Exchange has recently launched another (seventh) stage of its loan project, offering significant returns from the altcoin markets.

Futures markets on the Binance exchange are also under constant development. It remains the fifth largest cryptocurrency operator in the world, invariably dominating the industry in terms of currency pair availability.

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