Binance Announces Coin Cull, Delists Stablecoin Pairs

A series of delistings is affecting less liquid assets and trading pairs.

Binance announced a list of assets to drop from its trading list, including illiquid or risky pairs. The international Binance exchange carries 583 pairs, of which there is a long list of virtually neglected markets. The exchange also constantly adds new coins and tokens, which alter the trading activity.

The list includes mostly small-scale, obscure altcoins trading in pairs against stablecoins like Paxos Standard (PAX), USDC and TrueUSD (TUSD), but also small markets against Bitcoin (BTC) and Ethereum (ETH). Curiously, Binance removed a pair for BitTorrent Token (BTT), one of its pet projects.

Binance altcoin markets have been increasingly volatile, posing risk for traders. The exchange warned that it aims to offer high-quality assets, but that eliminating all risk is impossible. In the past, Binance has completed high-profile delistings, as in the case of Centra (CTR), and Bytecoin (BCN). In the case of BCN, the reason was extraordinary price volatility. Binance also delisted Bitcoin SV (BSV) due to disagreements on social media behavior.

Most of the assets will not be removed completely, but remain with limited trading pairs.

Binance is currently reassessing its approach to crypto assets, while expanding its services. The exchange offers a limited portfolio of coins on Binance.US, while being careful about new IEOs on its international platform.

The exchange abandoned its Community Coin of the Month program, but may plan to offer another listing competition in the future, as hinted in a recent tweet:

https://twitter.com/binance/status/1178566919814668289

Binance is also taking care to add value to the existing altcoins. The exchange recently launched the next stage of its lending scheme, offering significant returns for its altcoin markets.

https://twitter.com/binance/status/1178594440396464133

In the meantime, Binance is constantly growing its futures markets. The operator remains the fifth largest exchange by volumes according to CoinMarketCap, outpaced by newly arrived markets, which however show dubiously high activity. Binance also has the largest number of pairs among leading operators.

Binance Coin (BNB) was heavily hurt by the latest correction, down 25% in the past week to $15.07.

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