Binance (BNB) Announces Major Updates for Numerous Altcoin Trading Pairs in Futures Transactions: A Big Move in the Crypto World!

  • Binance Futures has announced updates to several futures pairs to protect users and maintain the integrity of the trading environment.
  • The leverage and margin tiers of COIN-M KNCUSD, ICXUSD, XTZUSD, ROSEUSD, and APEUSD perpetual contracts will be removed and updated from the list.
  • Existing positions opened before the update will be affected, and users are strongly advised to adjust their positions and leverages before the adjustment to avoid possible liquidation.

Binance Futures is updating several futures pairs to enhance user protection and maintain trading integrity. This move will affect existing positions, urging users to adjust accordingly.

Binance Futures to Delist and Update Leverage and Margin Tiers of Certain COIN-M Perpetual Contracts

Binance Futures will close all positions and execute automatic settlement in COIN-M KNCUSD, ICXUSD, and XTZUSD perpetual contracts on May 20, 2024, at 12:00. The same process will be carried out for ROSEUSD and APEUSD COIN-M perpetual contracts on May 21, 2024, at 12:00. Once the settlement is completed, the contracts will be delisted.

Adjustment of Leverage and Margin Tiers

In addition, Binance Futures will adjust the leverage and margin tiers of the aforementioned contracts on May 10, 2024, at 13:30. Existing positions opened before the update will be affected. It is strongly recommended that users adjust their positions and leverages before the adjustment to avoid possible liquidation.

Additional Protective Measures

To protect users and prevent potential risks in highly volatile market conditions, Binance Futures may take additional protective measures for the aforementioned contracts without further announcement. These measures may include adjusting the maximum leverage value at each margin tier, position value, and maintenance margin, updating funding rates such as interest rate, premium, and capped funding rate, changing the components of the price index, and using the Last Price Protected mechanism to update the Mark Price.

Conclusion

Binance Futures’ updates aim to enhance user protection and maintain the integrity of the trading environment. Users are advised to adjust their positions and leverages accordingly to avoid potential risks. As the crypto market continues to evolve, such updates are crucial in ensuring a fair and secure trading environment.

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Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
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