Cryptocurrency exchange Coinbase has announced it will end trading support on eight trading pairs in an effort to improve market integrity and strengthen liquidity. According to the exchange’s announcement, trading on these pairs will cease as of September 15th.
The trading pairs that Coinbase will end support for include $ANKR/EUR, $BAT/$BTC, $BAT/ETH, $COMP/$BTC, $FIL/$BTC, $GRT/$BTC, $JASMY/USDT, and $YFI/$BTC. The decision was made as part of adjustments to optimize trading conditions and liquidity on the platform.
The removal of trading pairs does not mean that the associated crypto assets have been completely removed from the Coinbase platform. While the announcement indicates that the decision is limited to specific trading pairs, whether users can continue to trade the related assets through other supported pairs will depend on the options available on the platform.
Coinbase aims to improve the efficient distribution of liquidity and strengthen market structure in the cryptocurrency markets by regularly evaluating trading pairs. Specifically, removing pairs with low trading volume or insufficient liquidity is a common method used by exchanges to increase efficiency in order books.
The change, taking place on September 15th, will directly affect specific trading pairs for crypto assets such as $ANKR, $BAT, $COMP, $FIL, $GRT, $JASMY, and $YFI. It’s important for users to check the currently supported pairs for the assets they wish to trade.
Coinbase’s decision comes at a time when exchanges are regularly reviewing their trading platforms and taking steps to protect liquidity and market integrity. The company will determine which trading pairs will continue to be supported based on the current market options available on the platform.
*This is not investment advice.