Cryptocurrency exchange Binance continues its delist operations. Finally, he announced that he will delist 3 altcoins on the futures side.
Binance Futures to Delist Leverage and Margin Tiers of GMTBUSD, NEARBUSD and AVAXBUSD Altcoin Pairs
Binance made the following statements in its announcement:
Binance Futures will close all positions on 2023-04-18 12:00 and auto-negotiate GMTBUSD, NEARBUSD and AVAXBUSD Perpetual Contracts. Contracts will be removed from the list after settlement is complete.
Users are advised to close their open positions before delisting time to avoid automatic liquidation.
Users are not allowed to open new positions for the above-mentioned contracts as of 2023-04-18 11:30.
Binance Futures may take additional protective measures, without further notice, to set the maximum leverage value, position value and sustain margin at each margin tier for GMTBUSD, NEARBUSD and AVAXBUSD Perpetual Contracts to protect our clients and avoid potential risks in extremely volatile market conditions.
This move by Binance Futures is a standard process that happens when an asset or contract is removed from the exchange.
Traders holding positions in these perpetual contracts are advised to close their positions before the settlement time to avoid the risk of liquidation.
The reason for the delisting of these contracts has not been disclosed by Binance Futures.
However, it is not uncommon for exchanges to delist contracts or assets due to low trading volumes or other factors that make it uneconomical to continue supporting.
*Not investment advice.