Bitfinex Spring Cleaning – 87 trading pairs are removed
Many stock exchanges now make up for one another because they are filled with illiquid trading pairs that are barely traded. We hear over and over again about these stock market cleanups. Bitfinex has now announced a major campaign in which the platform will remove 87 of these pairs.
The Bitfinex stock exchange recently announced that it would cut 87 trading pairs. This step is done to optimize the trading experience, for which illiquid pairs should be removed.
Among the trading pairs, some are well known in the cryptography industry. These include Bancor (BNT), Request (REQ), Polymath (POY), Storj (STJ), QASH (QSH), Zilliqa (ZIL), SpankChain (SPK), UTRUST (UTK) and others. The BTC pairs for this have been completely removed.
Other ETH trading pairs are also removed, including Decentraland (MANA) and Qtum (QTM).
These adjustments are not only necessary for a better trading experience, but also for trading, as they can reduce costs.
Although the market was fairly optimistic at the start of this year and the trading volume seemed good for all cryptocurrencies, global events naturally also affected the cryptocurrency market. It is currently unclear whether Bitfinex planned for this write-off some time ago or whether it is a recent decision.
Bitfinex is one of the main exchanges in the crypto market, especially for BTC traders. She was one of the few to have crossed stably when BitMEX and Deribit as well as Binance had problems during the BTC big crash. It should not be forgotten that Bitfinex generally dominates the market mood in margin trading alongside BitMEX. Bitfinex is also constantly evolving, as shown by the release of Future products and that the company has integrated Lightning Network for immediate deposits and withdrawals.
Bitfinex, however, also faces certain problems. The stock market was the subject of an in-depth review last year, notably due to its active relationship with Tether (USDT). A $ 1.5 billion lawsuit is still pending in court, accusing the stock market and its stable currency of being behind the largest bubble in history. Tether Treasuy has also shown more activity in recent days than around $ 240 million.