In a series of recent announcements, Binance Margin has announced significant changes to its platform that will impact traders and investors. The leading cryptocurrency exchange will delist several isolated margin pairs. It also offers a new perpetual futures contract with leverage options. Here are the details…
Binance will delist on isolated margin trades
Binance Margin has announced that some isolated margin pairs have been delisted. These are as follows: CKB/BUSD, CTK/BUSD, ELF/BUSD, FOR/BUSD, PERP/BUSD, SKL/BUSD and UNFI/BUSD. The delisting is scheduled to take place on August 3, 2023, at 09:00. Prior to the delisting date, specifically on July 26, 2023 at 09:00, Binance Margin will suspend isolated margin borrowing for these pairs. Then, on August 3, 2023 at 09:00, the exchange will perform an automatic settlement. It will close users’ positions and cancel all pending orders associated with said isolated margin pairs.
During the delisting process, users will not have the option to update or change their positions. Binance strongly advises users to close their positions and transfer their assets from Margin Wallets to Spot Wallets before margin trading is stopped on August 3, 2023 at 09:00 to avoid potential losses.
WLD perpetual futures launching
Binance Futures introduced the USDⓈ-M WLD perpetual contract to expand its futures offerings. The launch date of this new contract has been determined as 24 July 2023, 15:00 CET. Traders will have the opportunity to trade the WLDUSDT Perpetual Contract with up to 20x leverage. It is important to note that the features of the WLDUSDT Perpetual Contract may be subject to adjustments based on market risk conditions. Possible changes may include tick size, maximum leverage, initial margin and/or maintenance margin requirements. Investors should follow Binance’s latest announcements to be aware of any changes to the contract’s features.
Binance Margin also introduces Multi-Asset Mode, which allows users to buy and sell WLDUSDT Perpetual Contract with multiple collateral assets, subject to applicable collateral deductions. This means that traders can use assets such as BTC as margin collateral for trades involving the WLDUSDT Perpetual Contract. With the introduction of Multi-Asset Mode, Binance aims to offer its users greater flexibility and diverse trading opportunities by catering to the different risk preferences and strategies of traders on the platform.
Announcements of the stock market are critical
In conclusion, Binance’s recent announcements regarding the delisting of isolated margin pairs and the launch of the Multi-Asset Mode and WLD Perpetual Contract underline the exchange’s commitment to improving its offerings and providing a comprehensive trading experience to its global user base. Investors and traders are advised to consider the stock market delisting program and adjust their trading positions accordingly to mitigate potential risks. Also, for those planning to participate in futures trading on the Binance platform, it is of great importance to be informed about any updates or adjustments to the WLD Perpetual Contract’s features.
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