In a bold move shaking up the cryptocurrency world, Coinbase, a leading cryptocurrency exchange based in the US, has announced the suspension of 80 trading pairs. This significant development, declared on October 16, sent ripples across the market, leaving traders and investors on the edge of their seats.
The removal of these trading pairs, which includes cryptocurrencies like Bitcoin, stablecoins like Tether, and fiat currencies like the Euro, is a strategic effort by Coinbase to enhance the “overall market health and consolidate liquidity.” This decision, executed at 19:30 UTC on Oct. 16, was aimed at creating a more stable and vibrant trading environment.
List Trading Pairs is suspended : ACH-USDT, AGLD-USDT, ARPA-EUR, ARPA-USDT, AUCTION-EUR, AUCTION-USDT, BADGER-EUR, BADGER-USDT, BAND-BTC, BAND-EUR, BAND-GBP, BNT-BTC, BNT-EUR, BTRST-BTC, BTRST-EUR, BTRST-USDT, C98-USDT, CTSI-BTC, DESO-USDT, ELA-USDT, ERN-USDT, FORTH-BTC, FORTH-EUR, GAL-USDT, HFT-USDT, IDEX-USDT, IOTX-EUR, KNC-BTC, KSM-USDT, LCX-EUR, LCX-USDT, LQTY-EUR, LQTY-USDT, METIS-USDT, NKN-BTC, NKN-EUR, NKN-GBP, NMR-BTC, NMR-EUR, NMR-GBP, OGN-BTC, PERP-EUR, PERP-USDT, POND-USDT, POWR-EUR, POWR-USDT, RAD-BTC, RAD-EUR, RAD-GBP, RAD-USDT, REN-BTC, REQ-BTC, REQ-EUR, REQ-GBP, REQ-USDT, RLC-BTC, SKL-BTC, SKL-EUR, SKL-GBP, SPELL-USDT, STORJ-BTC, SUPER-USDT, SUSHI-BTC, SUSHI-ETH, SUSHI-EUR, SUSHI-GBP, TRAC-EUR, TRAC-USDT, TRU-BTC, TRU-EUR, TRU-USDT, UMA-BTC, UMA-EUR, UMA-GBP, XYO-EUR, XYO-USDT, ZEN-BTC, ZEN-USDT, ZRX-BTC, ZRX-EUR
Coinbase, a platform synonymous with innovation and reliability, took this step following a series of market evaluations. Their commitment to improving the trading experience for users is evident. By eliminating these trading pairs, they are paving the way for a more streamlined and efficient trading process.
For those concerned about the impact, Coinbase assures its users that they can still leverage their USD Coin balances to engage in trading. The move ensures that users can seamlessly transition to the “more liquid USD order books,” offering continuity in trading activities.
This recent development follows Coinbase’s earlier decision in early October, where they hinted at the suspension of several markets. The proactive approach taken by Coinbase showcases their dedication to ensuring a secure and sustainable trading environment for their users.
This is not the first time Coinbase has taken such a bold step. In mid-September, the platform eliminated an additional 41 non-USD markets with the same goal in mind: to increase liquidity and foster a healthier market ecosystem.
Coinbase’s influence in the cryptocurrency sphere is undeniable, and their strategic decisions reverberate throughout the industry. The removal of these trading pairs serves as a testament to their commitment to enhancing market dynamics and ensuring the best possible experience for traders and investors alike.
As the dust settles after this significant announcement, the crypto community eagerly anticipates the subsequent market movements. For now, traders and enthusiasts alike are left to adapt to this change, exploring new opportunities within Coinbase’s revamped trading landscape.