Popular Bitcoin and altcoin exchange Binance has made announcements for various cryptocurrencies recently. Here are the details…
Binance delists some altcoin pairs
Binance, one of the world’s leading cryptocurrency exchanges, announced that it will delist several trading pairs from its margin trading platform. Affected pairs include MBL/BUSD and PUNDIX/BUSD cross margin pairs, as well as FARM/BUSD, LSK/BUSD, MBL/BUSD, PLA/BUSD, PUNDIX/BUSD and SC/BUSD isolated margin pairs. Delisting is planned to take place on 22 June 2023 at 09:00.
However, before delisting takes place, Binance Margin will suspend isolated margin borrowing for the aforementioned pairs on June 16, 2023 at 09:00. During the delist, all users’ positions will be closed and an automatic reconciliation will be performed. In addition, all pending orders on the affected isolated margin pairs will be cancelled. MBL/BUSD and PUNDIX/BUSD cross-margin pairs will also be subtracted from the cross-margin at the same time.
Binance has informed its users that they will not be able to update their positions during the delisting process. As a precaution, users are strongly advised to close their positions and transfer their assets from Margin Wallets to Spot Wallets before margin trading is stopped on June 22, 2023. Binance emphasizes that it will not be held responsible for possible losses incurred by users as a result of delisting.
A new tool for options enters the market
In a separate announcement, Binance Options announced the launch of the Binance Volatility Index (BVOL). BVOL is a financial instrument designed to measure the expected volatility of the cryptocurrency market. Traders can use BVOL to assess market sentiment, improve risk management strategies, and make more informed trading decisions on the Binance Options trading platform. Currently, BVOL is only available for Bitcoin (BTC) and Ethereum (ETH) on Binance Options.
New altcoins added to VIP and Flexible Loan transactions
On the other hand, Binance has expanded its Flexible Loan and VIP Loan offerings by adding new loanable assets and collateral assets. Newly added loanable assets for Flexible Loan include FLUX, KAVA, AR, XLM, LEVER, DODO, PEOPLE, MTL and CTXC. Collateral assets added for Flexible Loan were ACH, GMT, EDU, HFT, SXP, MINA and SSV. Binance introduced FLUX, PHB, T, LPT, RAD, PHB, FLUX, LPT, KSM and ASTR as loanable and collateral assets for VIP Loan.
Binance Flexible Loan provides users with an isolated, over-collateralized and open-term loan service. It allows users to borrow cryptocurrencies without being bound by a certain loan term, while collateralizing the assets obtained from Simple Earn Flexible Product subscriptions. Users can also earn Real Time APR rewards through Simple Earn Flexible Products. On the other hand, Binance VIP Loan is a loan service that caters to both individuals and institutions. It offers over-collateralized loans with competitive rates, terms and services.
