Coinbase Removes 80 Non-USD Trading Pairs As Part Of Liquidity Improving Measures
Portfolio Pulse from Khyathi Dalal
Cryptocurrency exchange Coinbase (NASDAQ:COIN) has removed 80 non-USD trading pairs, including Bitcoin and stablecoins like Tether, from its platforms. The exchange notes that these markets account for an insignificant portion of its overall trading volume, so the impact on users would be minimal. Traders can continue trading these assets through USDC (CRYPTO: USDC) unification. This move follows a similar action in mid-September when Coinbase removed 41 non-USD markets. Coinbase's Q3 spot trading volumes have plunged 52% since 2022.
October 17, 2023 | 3:09 pm
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NEUTRAL IMPACT
Bitcoin trading pairs are among those removed by Coinbase. However, traders can continue trading Bitcoin through USDC unification.
Bitcoin trading pairs are among the 80 non-USD pairs removed by Coinbase. However, this may not significantly impact Bitcoin trading as traders can continue trading these assets through USDC unification.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Traders can continue trading assets through USDC unification despite the removal of 80 non-USD trading pairs by Coinbase.
Despite the removal of 80 non-USD trading pairs by Coinbase, traders can continue trading these assets through USDC unification. This suggests that the impact on USDC trading may be minimal.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Tether trading pairs are among those removed by Coinbase. However, traders can continue trading Tether through USDC unification.
Tether trading pairs are among the 80 non-USD pairs removed by Coinbase. However, this may not significantly impact Tether trading as traders can continue trading these assets through USDC unification.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Coinbase's removal of 80 non-USD trading pairs may have a minimal impact on its overall trading volume. However, the company's Q3 spot trading volumes have already plunged 52% since 2022.
The removal of 80 non-USD trading pairs is part of Coinbase's liquidity improving measures. However, this move, along with the previous removal of 41 non-USD markets, may not significantly impact the company's overall trading volume as these markets account for an insignificant portion of it. Nevertheless, the company's Q3 spot trading volumes have already plunged 52% since 2022, which could be a concern for investors.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100