Binance announced that it will be removing several trading pairs, including major cryptos such as Cardano (ADA), Ripple (XRP) and Polygon (MATIC). This change also affects the Shiba Inu (SHIB) token and will go into effect on June 1, 2023 at 6:00AM UTC.
This announcement is specific to trading in the Australian dollar (AUD) currency pair. The list of affected currency pairs includes ADA/AUD, XRP/AUD, MATIC/AUD and the recently delisted SHIB/AUD. Other trading pairs that will be removed include AUD/BUSD, AUD/USDT, BNB/AUD, BTC/AUD, DOGE/AUD, ETH/AUD, and GALA/AUD.
The main reason for these changes may be the low volume and relative unpopularity of these trading pairs. It is important to note that this decision does not reflect the individual cryptocurrencies themselves, such as ADA, XRP or SHIB, but rather the specific currency pair in question.
The move follows Binance’s recent pattern of delisting the SHIB/AUD trading pair earlier. These decisions underscore the exchange’s ongoing strategy to ensure a smooth trading experience for its users by phasing out underperforming trading pairs.
Despite these changes, users will still have the opportunity to trade these assets on other available pairs within the Binance platform. For ADA, XRP, and MATIC, this means the Crypto asset will continue to be traded against other popular fiat and cryptocurrencies.
However, Binance’s announcement also has some consequences for those using trading bots. The exchange will terminate the trading robot service for the above trading pairs from the same day. Binance strongly recommends users who use trading bots on these pairs to update or cancel their bots before the service is discontinued to avoid any potential losses.