Binance, a major player in the world of cryptocurrency exchanges, has just made an important announcement.
They are gearing up to remove certain liquidity pools from their platform, with the changes set to take effect on September 1, 2023.
This move will impact nearly 40 trading pairs, including the well-known PEPE and ADA pairs.
The liquidity pools being removed from the Binance Liquid Swap includes a range of pairs such as ADA/BNB, ALICE/BTC, APE/BTC, AVA/USDT, and many others.
According to Binance, these changes come as a result of their regular evaluation process, aimed at optimizing the trading experience for users, enhancing prices, and minimizing slippage.
Users who have assets tied up in the affected liquidity pools need not worry, as Binance has a plan in place. Deposited assets will be automatically returned to users’ spot wallets at 04:00 (UTC) on the specified date.
This process ensures a smooth transition for those impacted by the removal of these pools.
One noteworthy mention on the list is the PEPE token, which gained significant attention upon its launch. In fact, PEPE became one of the standout crypto tokens of 2023, experiencing remarkable adoption after its introduction in April.
Notably, it achieved a spot among top exchanges like Binance and BitMEX. The token’s value skyrocketed by an astounding 2,200% within just three weeks, according to TradingView data. However, PEPE’s value has since retreated, undergoing an 80% drop from its peak profit.
Importantly, Binance clarifies that the removal of these specific liquidity pools will not hinder trading of corresponding pairs on Binance Spot where applicable.
Additionally, users will still be able to trade in other available liquidity pools within the Binance Liquid Swap ecosystem.
A point to remember is that users won’t be able to add liquidity to the affected pools starting from 06:00 (UTC) on September 28, leading up to their removal.