Crypto trade behemoth Binance notified customers on Friday that it plans to delist particular crypto buying and selling pairs shortly forward. Notably, the digital asset buying and selling platform eyes delisting Heroes of Mavia, OMG Network, and BarnBridge (BOND) USD-Margined perpetual contracts. In flip, merchants and buyers anticipate a unfavorable affect on these tokens’ costs.
Binance Announces Plans To Delist MAVIA, OMG, & BOND Futures Contracts
In an official Binance announcement dated December 6, the crypto trade revealed that it’s going to delist MAVIAUSDT, OMGUSDT, and BONDUSDT perpetual contracts on December 16 at 09:00 UTC. Further, the announcement notified customers that the agency’s future buying and selling division would shut all positions and conduct an computerized settlement for the abovementioned pairs.
Meanwhile, customers have been urged to not shut or open any positions previous to the delisting time to keep away from the automated settlement course of. Moreover, the platform’s colossal consumer base shouldn’t be permitted to open new positions for these perpetual contracts beginning December 16 at 08:30 UTC. Further, at 09:00 UTC on the identical date, the buying and selling platform’s Funding Rate Arbitrage Bot can even finish all arbitrage methods and conduct an computerized settlement for these belongings.
Overall, the leading crypto exchange revealed that this mover involves “protect users and prevent potential risks in extremely volatile market conditions.” While this modified providing supplies customers with a secure buying and selling expertise, token delisting chronicles normally negatively affect costs.
How Are The Tokens Performing?
At press time, BOND worth crashed almost 10% intraday and is at the moment resting at $1.58. The token’s 24-hour high and low have been $1.54 and $1.77, respectively.
Similarly, OMG worth plunged roughly 5% to succeed in $0.5781. Its 24-hour low and peak have been $0.5522 and $0.6164, respectively.
Lastly, MAVIA worth cracked 10% intraday and is at the moment sitting at $1.94. The coin’s 24-hour high and low have been $1.92 and $2.27, respectively. Overall, the tokens’ slumping motion falls in keeping with Binance’s plans to delist perpetual contracts for these belongings.
Simultaneously, it’s additionally price noting that the identical crypto buying and selling platform additionally delisted several BTC margin trading pairs not too long ago, sparking comparable worth dip considerations. These delisted margin pairs included Band Protocol, Gitcoin, Highstreet, and Perpetual Protocol, amongst many others.
Also, the crypto buying and selling platform discontinued support for the NOT/BNB and RDNT/BTC buying and selling pairs not too long ago, sparking bearish market sentiments. Nevertheless, the Richard Teng-led agency continues to face sturdy on its assertion, revealing that the delisting course of comes solely to learn customers.
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