Binance Set to Delist These 5 Altcoins from Futures Trading: A Critical Update for Crypto Traders

  • Binance Futures is set to delist and update the leverage and margin tiers of certain COIN-M perpetual contracts. The exchange has warned users to adjust their positions to avoid liquidation.
  • According to an official announcement, Binance will automatically liquidate KNC/USD, ICX/USD, XTZ/USD, ROSE/USD, and APE/USD coin margin perpetual contracts on 20th and 21st May 2024.
  • Binance Contracts will also update the leverage and margin ladder of KNC/USD, ICX/USD, XTZ/USD, ROSE/USD, and APE/USD coin margin perpetual contracts on 10th May 2024. Users are strongly advised to adjust their positions to avoid possible liquidation.

Binance Futures is delisting certain COIN-M perpetual contracts and updating their leverage and margin tiers. Users are advised to adjust their positions to avoid liquidation.

Binance to Delist 4 Altcoin Margin Perpetual Contracts

As per the official announcement, Binance will automatically liquidate KNC/USD, ICX/USD, XTZ/USD coin margin perpetual contracts and ROSE/USD, APE/USD coin margin perpetual contracts on 20th May 2024 and 21st May 2024 respectively. Following the liquidation, the exchange will remove these altcoin margin perpetual contract trading pairs.

Exchange Will Not Allow Users to Open New Positions

Binance has recommended users to close their open positions before the delisting time to avoid automatic settlement. The exchange will not allow users to open new positions for the concerned contracts from the following dates:

  • 20th May 2024: KNCUSD, ICXUSD, and XTZUSD COIN-M perpetual contracts.
  • 21st May 2024: ROSEUSD and APEUSD COIN-M perpetual contracts.

Warnings for Users

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

Conclusion

In conclusion, Binance Futures is making significant changes to certain COIN-M perpetual contracts. Users are advised to adjust their positions accordingly to avoid potential losses. The exchange may also take additional protective measures to safeguard users from volatile market conditions.

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Alican is a young and dynamic individual at the age of 23, with a deep interest in space exploration, Elon Musk, and following in the footsteps of Atatürk. Alican is an expert in cryptocurrency, price action, and technical analysis. He has a passion for sharing his knowledge and experience through writing and aims to make a positive impact in the world of finance.
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