Bitfinex Announced The Delisting of 87 Trading Pairs Against Bitcoin, Ethereum

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Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • The Hong Kong-based digital asset trading platform Bitfinex announced that it is going to remove a total of 87 trading pairs from March 26, 2020, at 10:00 AM UTC.
  • The announcement pointed out that the removal will serve to consolidate and improve liquidity on Bitfinex.
  • Though Bitfinex is delisting pairs for enhancing liquidity for its remaining assets, the exchange mounted in the global trading volume in recent months.

The Hong Kong-based digital asset trading platform Bitfinex

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announced that it is going to remove a total of 87 trading pairs from March 26, 2020, at 10:00 AM UTC.

What is the motto of the exchange

As per the announcement, these 87 pairs were chosen due to their low liquidity. By doing so, the exchange will produce a more streamlined and optimized trading experience for its users. The removal will result in a decrease of these active trading pairs from 368 to 281 and will remove all available trading pairs for some altcoins.

Delisting is to consolidate and improve liquidity on Bitfinex

The announcement pointed out that the removal will serve to strengthen and enhance liquidity on Bitfinex. In its recent tweet, the exchange notified that to optimize the trading experience of its users, Bitfinex has decided to remove the 87 pairs.

Majorly, the trading pairs scheduled for removal are Ethereum (ETH) couples. Some other notable pairs consist of Dether (DTH/ETH), Dragonchain (DRN/ETH), SingularityNET (AGI/ETH), and Bancor (BNT/ETH).

Though Bitfinex is delisting pairs for enhancing liquidity for its remaining assets, the exchange mounted in the global trading volume in recent months. In December 2019, the exchange ascended from under $50 million per day to over $400 million as of today.

As per the latest statistics, over two-thirds of pairs attained less than $10,000 in trading volume per day. While the other half faced less than $1,000 per day, a few platforms lack liquid assets but will remain in operation like iExec RLC RLC/USD.

These pairs have traded less than $100 per day and spread of more than 50%. But it cannot be concluded for how long they will survive.

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