Binance, one of the world’s biggest cryptocurrency exchanges, has announced that it is removing a batch of thirty trading pairs from its listing. This is not such a big deal for an exchange that has a broad range of trading pairs, but what is curious is who has made that list, including BitTorrent.
BitTorrent (BTT), once known as the king of peer-to-peer file sharing, was acquired by Tron and its enigmatic head, Justin Sun last June. The news of this acquisition was intriguing, but then it got even more interesting when the newly acquired company announced it would be launching its own token – BTT.
The launch of the BTT token was aided by none other than Binance, which saw huge success in its opening minutes of launch as 59.8 billion BitTorrent Tokens (BTT), worth roughly $7.2 million, sold out in a matter of minutes on Binance’s Launchpad.
However, the demand was so high that those minutes could have actually been seconds, according to Binance CEO and founder Changpeng Zhao. He tweeted:
“Both sessions concluded. Took about 18 minutes, due to a system issue, would have taken 18 seconds otherwise. Demand was astronomical.”
Since that initial launch, the excitement and anticipation around BTT seems to have fallen away substantially. The value of the coin had fallen three-times less than when it debuted on Binance. Even so, it still appears odd for Binance to be delisting the project from its stable.
In fact, BTT is not even that unique as within the thirty pairs facing the axe; there are a total of six that were launched on Binance’s Launchpad Initial Exchange Offering platform, notable ones include BitTorrent (BTT), Elrond (ERD), Harmony (ONE) and WINk (WIN).
The full list of the delisted pairings are: ANKR/PAX, ANKR/TUSD, ANKR/USDC, BCPT/PAX, BCPT/TUSD, BCPT/USDC, BTT/BTC, DENT/BTC, DOGE/PAX, DOGE/USDC, ERD/PAX, ERD/USDC, FTM/PAX, FTM/TUSD, FUEL/ETH, GTO/PAX, GTO/TUSD, GTO/USDC, LUN/ETH, NCASH/BNB, NPXS/BTC, ONE/PAX, ONE/TUSD, PHB/PAX, PHB/USDC, TFUEL/PAX, TFUEL/TUSD, TFUEL/USDC, WAVES/PAX, WIN/BTC.
The reason behind the delisting of these pairs seems mostly benign, according to Binance. The exchange claimed that the pairs were being removed to “improve liquidity and user trading experience,” and that the choice of trading pairs was “as requested by most project teams.”