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Bitfinex announced that it will remove almost 100 trading pairs from its platform



Citing low liquidity, Bitfinex has announced that it will soon remove more than 87 trading pairs from the list. This move reflects increasing competition within the altcoin space, and could lead to significantly greater market volatility.

Some of the platforms will be removed entirely from the exchange, while others will only lose their Ethereum (ETH) pairing. Some will see the reorganization of the match. The currencies in the cut block include Bancor (BNT), Raiden Network (RDN) and Zilliqa (ZIL). Verge (XVG) will also have 2 major stripped trading pairs stripped, the British Pound (GBP) and the Euro (EUR).

Bitfinex is known for having a large selection of trading pairs, which has played a key role in its success. However, volume has dropped substantially in the past two years, and the exchange is now far from the most popular among traders. In this situation, removing the underperforming coins makes sense.

"The elimination of these trading pairs will serve to consolidate and improve liquidity in Bitfinex, which will lead to a more streamlined and streamlined trading experience for our users."

This move could be related to the fact that Bitfinex is losing community support. Unlike its main rivals, the exchange continues to maintain strict privacy over its key operations. This position is unsustainable as cryptocurrencies move into the mainstream. For example, Binance, which also has a large selection of peers and is popular with traders, has been actively working to gain legitimacy in the eyes of governments and regulators, and is making transparency a priority to move forward. Not surprisingly, it has grown significantly in recent times.

Consequences of this move on tokens

This exclusion is one of many that have been made in the altcoin space in recent months. Proponents of cryptocurrencies have long agreed that many of these platforms will eventually fail. Being removed from exchanges will likely be the catalyst that starts the process. Other notable exchanges like Poloniex and Bittrex have also been listing the underperforming alts.

Although there is no doubt that blockchain technology will soon be widely adopted, the real test for any platform is not market capitalization or the number of listings on exchanges. Rather, success will depend on adoption and use in the real world. Simply put, most altcoins will fail this basic criteria. Few have experienced any interest from established institutions. Fewer still offer blockchain-based solutions that cannot be managed by their biggest rivals.

Of particular interest is the sheer number of coins that are little more than Bitcoin clones. Some have been able to pull impressive market caps as a result of an early wave of investor interest. However, the world does not need dozens of Bitcoin imitators for cryptocurrencies to be adopted. Its failure once the speculator's interest decreases is almost certain.


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