Binance, the biggest crypto exchange, will stop offering Litecoin (LTC) and Dogecoin (DOGE) perpetual contracts in BUSD pairs. They’re making changes to the leverage and margins of these contracts today and will remove them next week after an automatic settlement.
Binance Removes Litecoin (LTC) and Dogecoin (DOGE) BUSD Trading:
Binance Plans to Remove LTC and DOGE Perpetual Contracts. Binance, a crypto exchange, has announced that it will delist the USDⓈ-M LTCBUSD and DOGEBUSD perpetual contracts.
Users need to take action before August 24 at 09:00 UTC, when Binance will close positions and perform an automatic settlement. Leverage and margin tiers for LTCBUSD and DOGEBUSD will be adjusted today at 12:30 UTC, in line with Binance’s strategy to decrease BUSD pairs.
This move mainly reduces leverage for LTC and DOGE perpetual contracts. Starting from August 24, 08:30 UTC, users won’t be able to open new positions for LTCBUSD and DOGEBUSD.
Binance previously delisted ADA and MATIC perpetual contracts and is gradually removing all perpetual contracts in BUSD pairs.
LTC and DOGE Values Plummet:
Other cryptocurrencies are facing downward pressure as the broader crypto market experiences sell-offs. Both Litecoin and Dogecoin prices have fallen by 10% each over the course of a week.
In the last 24 hours, the price of LTC has gone down by 5%, currently resting at $75. The lowest and highest prices within this period were $73.63 and $78.73, respectively. Interestingly, the trading volume has increased by 55% over the last 24 hours.
Similarly, the price of DOGE has also dropped by 5% in the past 24 hours, with the current price at $0.067. The lowest and highest prices during this time were $0.0664 and $0.0701, respectively.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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