"Hmm, apparently the price of XRP fell because of Binance?"
The world's largest cryptocurrency exchange Binance founded by Changpeng Zhao (CZ) without delay will act to delist a dozen liquidity pools on October 17, 2023 from Binance Liquid Swap.
Among the trading pairs that will be affected are XRP/BUSD, MANA/BUSD, OP/BUSD, BEL/USDT, FTM/BUSD, FUN/USDT, GMT/BNB, GMT/ETH, HFT/USDT, IDEX/USDT, LEVER/USDT including MAGIC/BTC.
It is true that Binance does not give a clear reason as to why they are doing this, but its team periodically reviews the listed liquidity pools to reduce slippage and provide users with better transaction prices.
The crypto exchange also assured that affected customers will automatically receive digital assets deposited in their Spot wallets on October 17, 2023.
Later, Binance also confirmed that the removal of liquidity pools will in no way affect the trading of the pair on Binance Spot.
But it should be noted that the latest delisting by Binance is one of the reasons why XRP price continues to plunge to a monthly low of $0.48, which is a significant drop from the $0.55 reached last week due to XRP's second victory against the SEC.
Earlier this month, Binance removed 19 trading pairs, among them ANKR/BUSD, DATA/BUSD, 1INCH/BUSD, POLYX/BUSD, RARE/BUSD, SLP/BUSD, SUSHI/BUSD and more.
It's also worth mentioning that all the delistings are from the BUSD trading pair and the crypto exchange will end support for the stablecoin early next year.
