Coinbase Consolidates Liquidity with Trading Pair Cuts
Coinbase is continuing its efforts to consolidate liquidity into more active markets by removing eight cryptocurrency trading pairs. The exchange announced that trading in ANKR-EUR, BAT-BTC, BAT-ETH, COMP-BTC, FIL-BTC, GRT-BTC, JASMY-USDT, and YFI-BTC will be suspended on September 15.
This decision follows Coinbase's regular review of markets and is intended to 'improve overall market health and consolidate liquidity.' The exchange has already switched the order books for these pairs to limit-only mode, allowing traders to place and cancel limit orders but no longer accepting market orders. Importantly, this move does not affect the underlying cryptocurrencies themselves.
Coinbase used a similar explanation when it suspended six non-USD markets on August 6: LSETH-ETH, MINA-EUR, GRT-GBP, MASK-GBP, CHZ-USDT, and CRO-USDT. The Graph is undergoing its second pair reduction in less than a month, with Coinbase removing both GRT-GBP and GRT-BTC.
This latest move is part of a broader pattern on Coinbase this year, which has seen the exchange carry out more consequential asset-level delistings. In August, trading was disabled entirely for Idex (IDEX), Loopring (LRC), Omni Network (OMNI), Pirate Nation (PIRATE), and StaFi (FIS) following reviews of whether these assets continued to meet Coinbase's listing standards.