Binance Set to Delist These Altcoin Pairs From its Futures Trading Platform
06.12.2024 13:00 1 min. read Alexander Stefanov
Binance, a major player in cryptocurrency trading, has unveiled plans to remove several perpetual futures contracts, signaling potential turbulence for the affected tokens.
Among those to be delisted are Heroes of Mavia (MAVIA), OMG Network (OMG), and BarnBridge (BOND). The changes are set to take place on December 16, with the exchange emphasizing user safety in volatile market conditions.
As outlined in its December 6 announcement, Binance will automatically close all open positions and settle contracts for these pairs at 09:00 UTC on the specified date. New positions will be prohibited starting 30 minutes earlier. Additionally, the platform’s arbitrage bots will halt activities related to these assets, marking a full suspension of trading operations for these contracts.
This move is part of Binance’s effort to maintain market stability, but the delisting has already had an impact on token prices, with all three tokens experiencing declines.
In recent weeks, Binance has taken similar actions, delisting multiple BTC margin pairs and other trading options. While these decisions have sparked bearish sentiment, Binance continues to stand by its strategy, insisting these steps are necessary to safeguard users and navigate the challenges of a dynamic market environment.
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