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Binance Removes UNI, ALGO, AXS Trading Pairs in Internal Cleansing Effort

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Wed, 18/10/2023 - 15:48
Binance Removes UNI, ALGO, AXS Trading Pairs in Internal Cleansing Effort
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Binance exchange has made another drastic move to cleanse its platform with respect to underperforming token pairs for selected products. As announced by the trading behemoth, the margin trading pairs for UNI, ALGO and AXS, among others, are on the chopping block.

Related
These XRP and Dogecoin (DOGE) Pairs Delisted by Binance Amid Regulatory Firestorm

The actual tokens impacted and their trading pairs include AUCTION/BUSD, ALGO/BUSD, APT/BUSD, ATOM/BUSD, AXS/BUSD, COMP/BUSD, CRV/BUSD, DODO/BUSD, DYDX/BUSD, EGLD/BUSD, ETC/BUSD, EOS/BUSD, FLOW/BUSD, FTM/BUSD, GLMR/BUSD, GMT/BUSD, HBAR/BUSD, KEY/BUSD, LDO/BUSD, LEVER/BUSD, LINA/BUSD, MAGIC/BUSD, MANA/BUSD, MASK/BUSD, NEAR/BUSD, ONE/BUSD, RNDR/BUSD, TRX/BUSD, UNI/BUSD and VET/BUSD.

The exchange said these assets' cross-margin and isolated-margin pairs will be ousted on Oct. 26 by 6:00 a.m. UTC.

Binance is the world's largest digital currency trading platform, and the firm boasts the most robust number of listed tokens. However, it always reviews the performance of the assets based on their trading volume and general growth. Based on this review process, Binance has delisted Dogecoin (DOGE), XRP and MATIC pairs in the past few months.

Binance and regulatory angle

Related
Two Cardano (ADA) Pairs Delisted on Major Exchange Following XRP Removal

Binance exchange has been cautious about its business activities since it was sued by the United States Securities and Exchange Commission (SEC). The regulator alleged that the firm supported the trading of unregistered securities, specifically naming Cardano (ADA), Solana (SOL) and Binance Coin (BNB), among others.

Arguably, the exchange still supports the trading of these digital currencies in some capacity, but it has been quite strict in ousting pairs without the right level of demand from its platform. Binance has maintained its lead as the biggest trading platform by volume, and this internal cleansing is its attempt to sustain its lead in this regard.

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