coinedition.com
Binance, the leading cryptocurrency exchange, announced the removal of selected liquidity pools from its platform. According to the announcement, Binance will implement the removal on September 1, 2023, and will affect almost 40 trading pairs, including PEPE and ADA pairs.
The liquidity pools to be removed from the Binance Liquid Swap include ADA/BNB, ALICE/BTC, APE/BTC, AVA/USDT, AVAX/BNB, BTC/TUSD, CHZ/BNB, CHZ/BTC, CTSI/BNB, DOT/BUSD, ENJ/USDT, FIL/BNB, FRONT/BUSD, GALA/BNB, ICP/BNB, ID/BTC, KDA/USDT, LIT/USDT, MATIC/BNB, NEO/BNB, PAXG/USDT, PEPE/USDT, SANTOS/USDT, SUSHI/BNB, SUSHI/BTC, SXP/BNB, SXP/BTC, THETA/BNB, THETA/BTC, TKO/USDT, TLM/USDT, TRX/BNB, TRX/ETH, WBTC/ETH, XMR/ETH, XMR/USDT, XVS/BTC, XVS/USDT, and ZEN/USDT.
According to a post on the Binance blog, the exercise follows a periodic review that enables Binance to concentrate liquidity for its users and ensures an optimized trading experience, price, and slippage. The crypto exchange informed users holding positions in the affected liquidity pools that they would automatically receive their deposited assets in their spot wallets at 04:00 (UTC) on the said date.
PEPE featured prominently on the list after displaying an impressive level of adoption at launch. It became one of the most profitable crypto tokens in 2023 after launching in April 2023. PEPE was listed among the top exchanges, including Binance and BitMEX. The meme coin’s price surged astronomically, gaining over 2,200% in less than three weeks, according to data from TradingView. PEPE’s price has since retraced, losing over 80% of the accumulated profit in the process.
Binance explained that the removal of the listed liquidity pools does not impact the trading of the corresponding pairs on Binance Spot, where applicable. It also notified users that they can still trade in other liquidity pools available on Binance Liquid Swap. However, before the removal, users cannot add liquidity into the affected liquidity pools starting from 06:00 (UTC) on September 28.