Coinbase is removing eight cryptocurrency trading pairs as the exchange continues to consolidate liquidity into its more active markets.
Coinbase Markets 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 Sept. 15.
The exchange said the decision followed its regular review of markets and was intended to “improve overall market health and consolidate liquidity.”
Ahead of the suspension, all eight order books have already been switched to limit-only mode on Coinbase Exchange and Coinbase Advanced. Traders can still place and cancel limit orders, while market orders are no longer accepted.
Importantly, Coinbase is not delisting the eight underlying cryptocurrencies.
ANKR, BAT, COMP, FIL, GRT, JASMY and YFI will remain available through their USD order books for Coinbase Advanced Trade users in eligible regions. The change instead removes individual markets denominated in Bitcoin, Ethereum, Tether and euros.
BAT is particularly affected by the latest cleanup, with Coinbase dropping both its BAT-BTC and BAT-ETH markets.
Consolidating liquidity
The latest move is part of a broader pattern that has emerged on Coinbase this year.
On Aug. 6, the exchange suspended another six non-USD markets: LSETH-ETH, MINA-EUR, GRT-GBP, MASK-GBP, CHZ-USDT and CRO-USDT.
Coinbase used essentially the same explanation at the time.
The Graph is therefore undergoing its second pair reduction in little more than a month. Coinbase removed GRT-GBP in August and is now eliminating GRT-BTC.
An earlier cleanup occurred in May.
Coinbase announced the suspension of APT-USDT, ENS-USDT, ICP-USDT, ICP-GBP, ROSE-USDT and SAND-USDT on May 14.
Coinbase has also carried out more consequential asset-level delistings in recent months.
In August, the exchange disabled trading entirely for Idex (IDEX), Loopring (LRC), Omni Network (OMNI), Pirate Nation (PIRATE) and StaFi (FIS) following reviews of whether the assets continued to meet its listing standards.