HomeBinanceBinance Announces Delisting and Updates to Leverage & Margin Tiers for Five...

Binance Announces Delisting and Updates to Leverage & Margin Tiers for Five Cryptocurrencies

-


Upcoming Changes to Binance Futures

Binance Announces Changes to Leverage & Margin Tiers of Five Cryptocurrencies on Futures Platform

In a recent update, Binance has shared that it will be making significant changes to its Futures platform, specifically regarding the leverage & margin tiers of five COIN-M perpetual contracts. The changes are set to take effect on specific dates and will impact users who hold positions in these contracts.

Delisting and Automatic Settlement

Binance Futures will be delisting the COIN-M KNCUSD, ICXUSD, XTZUSD, ROSEUSD, and APEUSD perpetual contracts. All positions in these contracts will be closed, and an automatic settlement will be conducted. The settlement for KNCUSD, ICXUSD, and XTZUSD contracts will take place on 2024-05-20 at 09:00 (UTC), while the settlement for ROSEUSD and APEUSD contracts will occur on 2024-05-21 at 09:00 (UTC).

Adjustments to Leverage and Margin Tiers

Additionally, Binance Futures will be adjusting the leverage and margin tiers of the aforementioned contracts on 2024-05-10 at 10:30 (UTC). Users with existing positions opened before the update are advised to make necessary adjustments to their positions and leverage to avoid potential liquidation.

Important Reminders for Users

Users are encouraged to close any open positions before the delisting time to prevent automatic settlement. Furthermore, new positions will not be allowed for the affected contracts from specific dates and times mentioned by Binance.

Protective Measures and Post-Settlement Procedures

Binance Futures may implement additional protective measures without prior notice to safeguard users in volatile market conditions. Following the settlement, positive balances in CM Wallets will be transferred to Cross Margin Wallets, while negative balances will undergo an auto-repayment process.

It is crucial for users to stay informed about these changes and take necessary actions to manage their positions effectively on the Binance Futures platform.

For more information and updates, users can refer to the official announcement on the Binance website.

LATEST POSTS

Gopax Offloads Genesis Claims as Binance Affiliate

Binance Sells Gopax Victims' Asset Claims for Less Than Half of Original Value Binance Sells Victims' Asset Claims at a Fraction of Their Worth, Leaving...

Is Ethereum Gaining Ground in the Crypto World?

Factors Favorable to a Capital Rotation Towards Ethereum: An Analysis by Laetitia B. The cryptocurrency market is known for its cyclical nature, with capital rotating...

Former Top Regulator Claims Elizabeth Warren’s Anti-Crypto Faction is Decreasing in Size Like a Shrinking Iceberg

Former CFTC Chairman Christopher Giancarlo Discusses the Future of Crypto in the U.S. Former CFTC Chairman Christopher Giancarlo is bullish on the future of cryptocurrency...

Bitcoin Price Gears Up for ‘Most Parabolic Phase’ – 5 Key Updates to Know This Week

Bitcoin (BTC) Faces Key Resistance as May Closes: Can $69,000 Fall by June? Bitcoin (BTC) is starting a new week with pressure on key resistance...

Most Popular