- Coinbase will remove 41 non-USD trading pairs, including ALCX/USDT and BIT/USD.
- Cryptocurrency exchanges are suspending pairs to improve overall market health and consolidate liquidity.
- Coinbase Advance users can trade frozen assets via their USDC balance.
- The cryptocurrency exchange stated that the suspended cryptocurrency trading pairs correspond to negligible trading volumes.
Coinbase will discontinue trading on dozens of non-USD trading pairs next month. The California-based cryptocurrency exchange announced this morning that it will be removing 41 non-USD trading pairs, including ALCX/USDT, BIT/USDT, INDEX/USDT, and more. The decision to suspend the trading pair was made after a regular review of the market on the cryptocurrency exchange.
Coinbase advanced users can trade suspended pairs
Coinbase exchange is X (formerly Twitter) announced the suspension of 41 non-USD trading pairs this morning. According to a separate incident report filed on the exchange’s official website, the cryptocurrency exchange decided to remove the pair as part of efforts to improve overall market health and consolidate liquidity.
On September 13, 2023, dozens of non-USD markets will be removed from Coinbase Exchange, Advanced Trade, and Coinbase Prime, including CTX/USDT, ORN/USDT, NEST/USDT, and more. However, Coinbase Advance users can use their USDC balances to trade suspended trading pairs on the company’s more liquid USD order book.
Additionally, Coinbase Exchange users can still trade the above-mentioned cryptocurrency assets by opting for USDC integration. The USD-USDC environment was introduced earlier this year to allow exchange users to initiate transactions on the exchange’s USD ledger using their USDC balances.
According to Coinbase Exchange, the markets affected by the recent decision were a negligible portion of the cryptocurrency giant’s overall trading volume. News of Coinbase’s massive outage came just hours before the exchange announced it would be adding support for PYUSD, PayPal’s recently launched stablecoin.