A leading cryptocurrency exchange in the U.S., Coinbase has notified users of its decision to remove some popular trading pairs from its platform. In a post on X, the exchange clarified that the move is to improve the overall market health of the exchange and consolidate liquidity.
Coinbase shifts to USD-based markets for higher liquidity
The delisted trading pairs are MASK-USDT, MASK-EUR, MINA-USDT, GMT-USDT, AXS-BTC and SNX-BTC. Coinbase will suspend trading on these pairs effective 12:00 p.m. ET on Oct. 29, 2025. This means that after that time, holders will no longer be able to place new trades in these pairs.
Notably, the assets themselves will remain tradable, but only in pairs that the exchange has not delisted. It appears the figures from the trading pairs have not encouraged the exchange to continue offering it to its users.
We regularly monitor the markets on our exchange. In an effort to improve overall market health and consolidate liquidity, we will be removing the MASK-USDT, MASK-EUR, MINA-USDT, GMT-USDT AXS-BTC, SNX-BTC trading pairs.
— Coinbase Markets 🛡️ (@CoinbaseMarkets) October 28, 2025
However, users on Coinbase Advanced and those in select eligible regions can still trade these tokens. To do this, a user would need to employ USD-based trading pairs, such as MASK/USD and MINA/USD, among others.
This indicates that the tokens are not entirely delisted, but the less active pairs are. The goal is to allow Coinbase direct liquidity on the main USD market, which appears to be thriving more than other trading pairs.
Meanwhile, the exchange has also moved AXS-BTC to “limit-only mode.” This implies that users can place limit orders and cancel existing orders. However, instant buying and selling have been disabled. The development suggests that this pair might face full suspension soon.
Market observers are closely monitoring the impact this could have on the delisted tokens. Notably, when Coinbase delisted the OMNI-Perp pair, the move caused a 17% price crash for OMNI token. In that instance, the exchange did not leave the Coinbase Advanced option open to users.
Coinbase’s broader exchange strategy
As far as improving overall market health goes, Coinbase announced last week that it was providing support for BNB. It will allow users to trade the BNB/USD pair, which is a significant development given that BNB is the native token of the Binance trading platform, another competing exchange.
Binance Founder Changpeng Zhao acknowledged the listing offer on social media as a big win for BNB. The asset has managed to stay above $1,000 despite market volatility.
