said Binance, the world's largest cryptocurrency trading platform. On Friday, it will remove selected liquidity pools from Binance Liquid Swap pools. The cryptocurrency trading platform is removing some major liquidity pools including Bitcoin (BTC), Ethereum (ETH), Binance Coin BNB, Cardano (ADA), Polygon (MATIC), Solana (SOL), Shiba Inu (SHIB), and Doge. Coin (DOGE).

Binance Liquid Swap allows users to pool liquidity to become liquidity providers and earn transaction fees and BNB rewards. With the ease of exchanging tokens for cryptocurrencies.

Binance Removes Major Liquidity Pools in BUSD Pairs Cryptocurrency trading platform Binance revealed in an official announcement on October 20 a plan to stop some liquidity pools in Binance Liquid Swap. Binance will remove some major liquidity pools such as BTC/BUSD, ETH/BUSD, BNB/BUSD, ADA/BUSD, MATIC/BUSD, SOL/BUSD, SHIB/BUSD, and DOGE/BUSD. The move is part of the strategy to completely end support for the BUSD stablecoin by February 2024.

Other liquidity pools are BUSD/DAI, BUSD/USDT, FIL/BUSD, GMT/BUSD, HOOK/BUSD, LINK/BUSD, LTC/BUSD, POND/BUSD, and UNI/BUSD.

Users will no longer be able to add liquidity to the above liquidity pools as of October 23 at 04:00 UTC. Furthermore, users who hold positions in the above-mentioned liquidity pools will automatically receive crypto assets deposited into their spot wallets on October 27.

“Users can choose to redeem their assets from the above liquidity pools before 2023-10-27 at 04:00 (UTC). Deposits in liquidity pools will then be calculated based on the prevailing composition ratios of the corresponding liquidity pool. And automatically redeem them to users' Spot wallets, according to the announcement.

Binance said it periodically reviews listed liquidity pools to concentrate liquidity, reduce slippage and provide better transaction prices to its users. This ensures an enhanced trading experience on the cryptocurrency trading platform.

Binance Removes BUSD Support Binance continues to reduce BUSD support by deleting pairs, removing liquidity pools. and termination of products and services associated with BUSD. BUSD's market capitalization fell to $2 billion from $22.50 billion this year.

The trading platform removed some major liquidity pools such as XRP/BUSD, FTM/BUSD, MANA/BUSD, and OP/BUSD last week.