In a recent development, Binance, one of the world’s leading cryptocurrency exchanges, attracted attention. The exchange has made important announcements that will affect the trading environment. Here are the details of the two major updates…
Isolated margin pairs will delist
Binance Margin has officially announced that it will delist a number of isolated margin pairs on October 12, 2023 at 09:00 UTC. These pairs include:
AAVE/BUSD, ADX/BUSD, AMP/BUSD, AR/BUSD, BADGER/BUSD, BETA/BUSD, CELR/BUSD, CHESS/BUSD, CHZ/BUSD, DEXE/BUSD, DREP/BUSD, HARD/BUSD, ILV/ BUSD, IOTA/BUSD, JOE/BUSD, MBOX/BUSD, MOVR/BUSD, QI/BUSD, RPL/BUSD, SNX/BUSD, SYS/BUSD, TKO/BUSD, TOMO/BUSD, VOXEL/BUSD and WRX/BUSD
Items to be considered during delisting
During this delist process, it is important to pay attention to these important dates and actions:
- October 9, 2023 at 09:00 CET: Binance Margin will suspend isolated margin borrowing for those pairs.
- October 12, 2023 at 09:00 CET: Binance Margin will initiate the closing of users’ positions, perform automatic settlements, and cancel all pending orders for isolated margin pairs. Subsequently, these pairs will be removed from the Isolated Margin platform.
During this delisting process, users will not be able to update their positions. Binance strongly recommends users take action by closing positions and/or transferring assets from margin to spot wallets before margin trading ends on October 12, 2023 at 09:00 UTC. It is very important to understand that Binance will not accept liability for possible losses that may occur after this date.
There are also new trading opportunities
In more positive news, Binance is introducing new trading pairs on October 5, 2023 at 11:00 AM ET. Thus, it will expand the trading options it offers to its users. These new trading pairs include ARB/FDUSD, FDUSD/TRY, FRONT/TRY, LINK/TUSD and SUI/FDUSD. In addition, Binance offers special incentives for those trading FDUSD and TUSD pairs. Users will enjoy zero maker fees on these pairs until further notice. Thus, this will increase the attractiveness of trading options. The exchange stated that TRY represents fiat currency and is not tied to any other crypto.
These developments are important for Binance’s users and the cryptocurrency market. It indicates that the stock market offers a dynamic and responsive trading environment. It also emphasizes its commitment to ensuring the safety of its assets throughout the delisting process. It is critical that investors on the platform have the knowledge to manage their positions in light of these changes. Users are also encouraged to take appropriate actions.
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