Cryptocurrency exchange Bitfinex is delisting 87 altcoin trading pairs in response to low levels of liquidity.
According to the announcement made Mar. 20, the exchange is removing the trading pairs as of 10:00 AM UTC on Mar. 26. The exchange says the decision serves to “consolidate and improve” liquidity on Bitfinex, and create a more streamlined and optimized trading experience for users.
A majority of the trading pairs involve smaller capitalization altcoins with ethereum and bitcoin, in addition to a few fiat and stablecoin currencies. Bitfinex reiterated that the coins are not being delisted from the exchange and will still be available for traded albeit with limited pairing options.
The most recent wave of cuts follows on an announcement made by Bitfinex at the beginning of the month to remove 46 trading pairs, bringing March’s total delisting to 133. The exchange cited inadequate liquidity and low trading volumes as the catalyst for its original round of cuts.
Bitfinex CTO Paolo Ardoino told The Block the exchange was attempting to delist the large number of initial coin offering (ICO) projects that sprung up in 2017 but have since “lost traction.” Ardoino said Bitfinex is attempting to concentrate a coin’s liquidity into a single trading pair, such as USD.
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