Binance Margin has announced plans to delist 20 altcoin trading pairs in a strategic move that will reshape the cryptocurrency trading landscape. These trading pairs, which also include popular tokens such as ALICE, ANKR and AVA, will be unavailable on both cross margin and isolated margin platforms starting September 21, 2023 at 09:00 UTC. In this article, we cover the details of this important development, its implications, and what users should consider as the delisting process progresses. Here are the details…
Binance made an important delist announcement
In a recent announcement, Binance Margin announced its decision to delist several trading pairs on both cross margin and isolated margin platforms. This move will significantly impact traders in ALICE/BUSD, ANKR/BUSD, AVA/BUSD, BICO/BUSD, CLV/BUSD, COTI/BUSD, DAR/BUSD. Also DEGO/BUSD, GLM/BUSD, IMX/BUSD, KP3R/BUSD, KSM/BUSD, LRC/BUSD, MDX/BUSD, MKR/BUSD, POLYX/BUSD, SLP/BUSD, WAXP/BUSD, XTZ/BUSD and ZIL /BUSD pairs will also be affected by this. The process will proceed as follows:
- 1. Suspension of Isolated Collateral Borrowing:Binance Margin will suspend isolated collateral borrowing for these trading pairs starting from 09:00 UTC on September 15, 2023.
- 2. Complete removal from the list: On September 21, 2023 at 09:00 UTC, Binance Margin will begin its complete delisting process. This process includes closing users’ positions, automatic settlement, and cancellation of all pending orders for the affected trading pairs.
They will also be delist from the cross margin
Binance Margin will issue these pairs not only from the isolated margin but also from the cross margin at 06:00 UTC on September 21, 2023. This means these trading pairs will no longer be available for margin trading. Users wishing to trade these assets can do so via other available trading pairs on Binance Margin. The exchange guarantees that alternative trading options will not be affected by these delistings. The important items are as follows:
- Users are advised not to update their positions during the delisting process.
- Users are strongly advised to close their positions and/or transfer their assets from Margin Wallets to Spot Wallets before the suspension of margin trading on September 21, 2023 at 09:00 UTC.
- Binance expressly states that it will not take responsibility for any possible losses resulting from failure to take appropriate steps before the delisting deadline.
Traders and investors are advised to review their positions and take the necessary actions to mitigate any potential disruptions this delisting may cause. Please stay tuned for updates from Binance Margin regarding this delisting process.
