Binance will stop offering Spot Trading Bots services for trading pairs including AAVE/BNB and ZIL/BNB as of September 29.
The news is made amid stories about declining Binance trading volumes, which are attributed to legal issues and the loss of zero-fee commissions. 57 down, with possibly more to come on the Binance website, a list of the removed Spot Trading bot services can be seen.
According to the crypto exchange, the cause for these widespread removals is a “service alteration to improve the user’s trading experience.”
In a tweet from September 21, Binance initially revealed the removals. The following day, a follow-up tweet claimed that despite these removals, two service bot trading pairs—BTC/FDUSD and USDT/TRY—would be added.
The statement comes two days after the crypto exchange disclosed the decision to stop trading 15 spot trading pairs, citing low trading volume and poor liquidity as justifications.
In light of the MiCA law’s uncertainties, a former executive warned that it may be the first time the platform’s services are modified. It shouldn’t be surprising that certain operational modifications are required to weather the storm, given Binance’s current legal battle with the U.S. Securities and Exchange Commission and recent reports of falling Bitcoin volume in September.
