Binance Eliminates Some Liquidity Pools, Launchpool Onboards Neutron Staking Opportunity
Portfolio Pulse from Khyathi Dalal
Binance is eliminating over 10 liquidity pools and introducing Neutron staking. The liquidity pools to be removed include XRP, Fantom, Optimism, and Decentraland. This is part of Binance's strategy to end BUSD stablecoin support by February 2024. Other liquidity pools such as BEL/USDT, FUN/USDT, GMT/BNB, GMT/ETH, HFT/USDT, IDEX/USDT, LEVER/USDT, and MAGIC/BTC will also be removed. Binance users will be able to stake their BNB, TUSD, and FDUSD to farm Neutron tokens for 20 days starting from Oct.11, 2023.
October 10, 2023 | 7:04 pm
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NEGATIVE IMPACT
Binance's decision to end BUSD stablecoin support by February 2024 could impact the value of BUSD.
The elimination of liquidity pools and the end of BUSD stablecoin support could lead to a decrease in demand for BUSD, potentially impacting its value.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The removal of the Fantom liquidity pool on Binance could impact the value of FTM.
The removal of the Fantom liquidity pool could lead to a decrease in demand for FTM, potentially impacting its value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The removal of the Decentraland liquidity pool on Binance could impact the value of MANA.
The removal of the Decentraland liquidity pool could lead to a decrease in demand for MANA, potentially impacting its value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The removal of the Optimism liquidity pool on Binance could impact the value of OP.
The removal of the Optimism liquidity pool could lead to a decrease in demand for OP, potentially impacting its value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The removal of the XRP liquidity pool on Binance could impact the value of XRP.
The removal of the XRP liquidity pool could lead to a decrease in demand for XRP, potentially impacting its value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80