Binance Announces Removal of Margin Trading Pairs
Renowned cryptocurrency exchange, Binance, has announced plans to delist several margin trading pairs on its platform, according to a recent announcement on its official website. The process will take effect from 6:00 UTC, May 31, 2024.
Details of the Delisting
The margin trading pairs due for removal include Cross Margin pairs such as MDX/BTC, SEI/TUSD, and SUI/TUSD, as well as Isolated Margin pairs including ALPACA/BTC, ARKM/TUSD, CHESS/BTC, MDX/BTC, SEI/TUSD, and SUI/TUSD.
Furthermore, Binance Margin will suspend isolated margin borrowing on the aforementioned isolated margin pairs from 6:00 UTC, May 24, 2024. By May 31, 2024, the platform will close users’ positions, conduct an automatic settlement, and cancel all pending orders on the said cross and isolated margin pairs. These pairs will subsequently be removed from Margin.
Precautions for Users
Users are advised that they will not be able to update their positions during the delisting process. It is therefore strongly recommended that they close their positions and/or transfer their assets from Margin Wallets to Spot Wallets prior to the cessation of margin trading at the stated time. Binance has made it clear that it will not be responsible for any potential losses resulting from this process.
Despite the delisting, users will still be able to trade the affected assets on other trading pairs available on Binance Margin. The platform also reserves the right to amend or cancel this announcement at any time and for any reasons without prior notice.
Binance’s announcement is a significant move in the crypto trading landscape, reflecting the platform’s commitment to maintain a healthy trading environment for its users. Users are advised to stay updated with Binance’s announcements for further developments.
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