Major cryptocurrency exchange Bitfinex announced the removal of 87 crypto trading pairs due to low liquidity levels as of March 26 at 10:00 GMT.
According to the company, the measure seeks to consolidate and improve liquidity, allowing them to move towards a more streamlined and optimized trading experience.
Bitfinex provided to Cointelegraph additional details on the removal:
“The decision was taken after monitoring [the pairs] for six weeks and finding a consistent low level of liquidity. We take this type of action to concentrate trading in fewer pairs.”
List of crypto trading pairs removed
The crypto exchange also told Cointelegraph that such moves are a standalone operation to concentrate liquidity in fewer pairs for tokens that don’t have a significant trading volume.
As for the pairs related to Bitcoin and Ethereum are Dether (DTH/BTC), (DTH/ETH); DATA (DTA/BTC), (DTA/ETH); Bancor (BNT/BTC), (BNT/ETH); SingularityNET (AGI/BTC), (AGI/ETH); Request (REQ/BTC), (REQ/ETH), among others.
Among the Ethereum-only pairs are included Dragonchain (DRN/ETH), Monolith (TKN/ETH), Essentia (ESS/ETH), Hydro Protocol (HOT/ETH), Content Neutrality Network (CNN/ETH), MobileGO (MGO/ETH), Melon (MLN/ETH), Rate3 (RTE/ETH), YOYOW (YYW/ETH), POA Network (POA/ETH), among others.
The list of removed Bitcoin-only pairs is as follows: Cortex (CTX/BTC), Fusion (FSN/BTC), Mithril (MITH/BTC), Aelf (ELF/BTC), Seer (SEE/BTC), Project Pai (PAI/BTC), Cindicator (CND/BTC), Recovery Right Token (RRT/BTC), Auctus (AUC/BTC), FunFair (FUN/BTC).
The Tether-related tokens that will be delisted are Gatechain Token (GTX/USDt), ZB Token (ZB/USDt) and Dragon Token (DT/USDt).
The exchange clarifies that users can cancel any open orders with such pairs before March 26. At that time, user’s open trades will be canceled by the system.
Previous trading pairs’ delisting
The announcement comes after a similar move made recently by Bitfinex. Cointelegraph reported on March 2 that the cryptocurrency exchange would remove 46 trading pairs, also due to low liquidity.
On other fronts, Bitfinex had also announced the roll out of futures trading for Tether’s new gold-backed coin, allowing users to trade contracts on Tether Gold (XAU₮) against Tether.
Additionally, Cointelegraph reported on March 16 that the exchange listed Bahamas-based crypto hedge fund, Fulgur Alpha.
Joseph Spezzano received a Masters Degree in computer science from The University of Massachusetts. Joseph has been working as a full-time blockchain programmer for the past 5 years. In his spare time, Joseph enjoys writing for CryptocurrencyInvestments.com and traveling.