Coinbase Suspends 80 Non-USD Trading Pairs To Improve Liquidity And Crypto Binance
Coinbase suspends 80 non-USD trading pairs to improve liquidity

Coinbase Removes Trading Pairs To Improve Liquidity

The US-based cryptocurrency exchange Coinbase is removing dozens of trading pairs in order to enhance liquidity on its platform. On Oct. 16, Coinbase said it is suspending 80 non-USD trading pairs, which include cryptocurrency pairs such as Bitcoin (BTC) and Tether (USDT) and fiat currency pairs like the euro.

At 19:30 UTC on Oct. 16, Coinbase removed the trading pairs from its exchange and other platforms such as Advanced Trade and Coinbase Prime. This move is part of Coinbase’s plan to suspend markets which was announced earlier in October.

Coinbase has stated that users of the affected platforms can still trade the markets in its more liquid USD order books by using the exchange’s USDC (USDC) balances. This is in line with the exchange’s intention to consolidate liquidity and improve overall market health.

Coinbase Suspends Trading Pairs to Improve Liquidity

Coinbase recently announced the suspension of 41 non-USD markets, citing the need to improve liquidity. According to the exchange, these markets made up an immaterial amount of its total trading volume. Notably, none of the suspended markets included USDC, a stablecoin co-developed by Coinbase and Circle.

The move comes as Coinbase’s spot trading volumes for the third quarter have plummeted 52% since last year. This is in line with other major cryptocurrency exchanges like Binance, whose spot market share fell for a seventh consecutive month in September 2023, tumbling from 55% in early 2023 to 34% in September 2023.

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