Bitfinex to further delist 87 trading pairs amid low liquidity

Exchanges • March 23, 2020, 5:16AM EDT
UPDATED: March 23, 2020, 11:36AM EDT
The Block

Crypto exchange Bitfinex is set to further delist 87 trading pairs due to low levels of liquidity.

The pairs being removed include several altcoins paired against both bitcoin (BTC) and ether (ETH), as well as against tether (USDT) and fiat currencies.

Some of these pairs include altcoins of notable projects, such as token creation platform Bancor, blockchain-based AI marketplace project SingularityNET and adult industry-oriented blockchain project SpankChain, among others. 

Bitfinex said the removal, effective March 26, will help improve liquidity and the trading experience for users.

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Bitfinex appears to be on a delisting-spree. Earlier this month, it removed 46 trading pairs, also due to low liquidity.

At the time, Bitfinex CTO Paolo Ardoino told The Block that the exchange decided to delist pairs because many projects born in the 2017 initial coin offering (ICO) boom have now “lost traction.”

While Bitfinex currently does not have a hard cap for the number of pairs it hopes to support, it wants to concentrate all liquidity of a given project into a single pair, typically the USD pair, Ardoino told The Block at the time.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.

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