Binance Futures to Remove 5 Crypto Perpetual Contract Pairs: Impact on Coin Market and Symbols

• Binance Futures has announced the delisting of several USDT perpetual contracts, including STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT.
• The delisting exercise will occur between May 13 and 14, 2024, with the exchange advising users to adjust their positions and leverage to avoid the risk of liquidation.
• The announcement has led to immediate price pullbacks for the affected contracts, with STPTUSDT dropping by 7.24% in the hours following the news.

Binance Futures delists several USDT perpetual contracts, leading to immediate price pullbacks. Users are advised to adjust their positions and leverage to avoid liquidation risk.

Binance Futures Delists Several USDT Perpetual Contracts

Binance Futures, the leading crypto exchange, has announced the delisting of several USDT perpetual contracts. The affected pairs include STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT. The delisting exercise will take place between May 13 and 14, 2024, during which the exchange will close all positions and conduct an automatic settlement.

Impact of the Delisting Announcement

The announcement has led to immediate price pullbacks for the affected contracts. STPTUSDT, for instance, dropped by 7.24% in the hours following the news, moving from $0.5950 to $0.5516 before attempting a recovery. Other affected contracts, including SNTUSDT and MBLUSDT, experienced similar price drops, losing 6.51% and 6.26% respectively. RADUSDT and CVXUSDT also experienced pullbacks, albeit to a lesser extent.

Advice to Users

In light of the delisting, Binance Futures has advised users to adjust their positions and leverage to avoid the risk of liquidation. The exchange will implement the final delisting of the affected pairs after it has completed the settlements. It will also adjust the leverage and margin tiers of affected contracts before the final delisting exercise.

Conclusion

The delisting of several USDT perpetual contracts by Binance Futures has led to immediate price pullbacks for the affected pairs. Users are advised to adjust their positions and leverage to avoid the risk of liquidation. It remains to be seen how these changes will impact the broader crypto market in the coming days.