Binance, one of the leading Bitcoin exchanges, has recently made an announcement regarding the delisting of two altcoin trading pairs from its futures platform. The affected trading pairs are USDⓈ-M FOOTBALLUSDT and BLUEBIRDUSDT perpetual contracts. This decision has been made in order to adjust leverage and margin tiers.
The delisting and updates are scheduled to take effect on March 26, 2024, at 12:00 PM. As a result, all positions will be closed and automatic settlements will occur. Users are strongly advised to adjust their positions and leverage ahead of time to minimize the risk of liquidation. It is recommended to close any open positions before the delisting to avoid unwanted settlements.
Furthermore, from 11:30 AM on March 26, 2024, users will be prohibited from opening new positions for the affected contracts. This restriction is in line with Binance Futures’ commitment to managing risks during periods of market volatility.
Binance Futures also reserves the right to implement additional protective measures to safeguard users and address market uncertainties. These measures may involve adjustments to maximum leverage values, position sizes, maintenance margins, funding rates, and components of price indices. Additionally, they may employ the Last Price Protected mechanism to update the Mark Price.
The decision to delist and update leverage and margin tiers reflects Binance Futures’ dedication to providing a secure and stable trading environment for its users. By taking proactive steps in risk management, the platform aims to protect the integrity of the derivatives market and safeguard investors from adverse market conditions.
It is important to note that this information is not intended as investment advice.