Binance to Delist Multiple Margin Trading Pairs in December 2024
Joerg Hiller Dec 03, 2024 05:08
Binance announces the delisting of several margin trading pairs, including BAND/BTC and GTC/BTC, effective December 11, 2024, impacting both cross and isolated margin accounts.
Leading cryptocurrency exchange Binance has announced plans to delist several margin trading pairs, effective December 11, 2024, according to a recent announcement from the company. This delisting will impact both cross and isolated margin trading pairs, with notable pairs such as BAND/BTC and GTC/BTC among those affected.
Impact on Margin Trading Accounts
Users will no longer be able to transfer assets of the delisted pairs via manual transfers or Auto-Transfer Mode into their Isolated Margin accounts. Binance has advised users with outstanding liabilities to manually transfer up to the amount of their liabilities into their Isolated Margin accounts, minus any existing collateral.
Starting December 4, 2024, Binance Margin will suspend isolated margin borrowing for the affected pairs. Subsequently, on December 11, 2024, all user positions will be closed, an automatic settlement will occur, and all pending orders will be canceled for these pairs.
Recommendations for Users
Binance has strongly recommended that users close their positions and transfer their assets from Margin Wallets to Spot Wallets before the delisting process is completed to avoid potential losses. During the delisting process, users will not be able to update their positions.
Continued Trading Opportunities
Despite the delisting, users can still engage in trading the affected assets on other available trading pairs on Binance Margin. This offers users an opportunity to continue trading these assets without interruption.
Potential Risks and Considerations
Binance has issued a reminder regarding the risks associated with digital asset trading, emphasizing the importance of understanding market volatility and the potential for significant losses. Users are encouraged to review their investment strategies and consult with financial advisors if necessary.
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