Binance Margin announced that it will delist the WRX/BTC isolated margin pair on May 15, 2023 at 09:00.
Cryptocurrency Exchange Binance Delisted WRX/BTC Parity From Margin Transactions
After delisting, Binance will close users' positions, perform an automatic settlement and cancel all pending orders on the WRX/BTC isolated margin pair. The pair will be removed from the Isolated Margin after this transaction.
Isolated margin trading allows traders to borrow funds from Binance to increase their trading positions. However, this also exposes them to greater risks as losses may exceed the funds they borrow.
The delisting of the WRX/BTC isolated margin pair suggests that it is not popular enough among Binance users or that its trading volume does not meet Binance's requirements.
Binance regularly reviews trading pairs to ensure they meet trading volume, liquidity and overall market demand standards. The exchange had previously delisted several trading pairs that did not meet these requirements.
Traders holding positions in the WRX/BTC isolated margin pair are advised to close their positions before the delisting date. All remaining positions will be closed by Binance at the current market price.
WRX is WazirX's utility token. The WRX token is based on the Binance blockchain. Its total supply is 1 Billion.
WRX and WRX are backed by Indian entrepreneurs with over 10 years of experience building and scaling global products outside of India. WazirX was also acquired by Binance in November 2019.
At the time of this writing, the price of WRX was trading at $0.133773.
*Not investment advice.