Binance Removes Multiple Altcoin Pairs from Margin Trading

Binance Margin has recently made an announcement regarding the removal of a significant number of trading pairs from its cross margin and isolated margin trading options.

Binance Margin has made the decision to delist several trading pairs from its cross margin and isolated margin trading. Starting from June 22, 2023, at 09:00, the trading pairs MBL/BUSD and PUNDIX/BUSD will be excluded from the platform.

Binance, the cryptocurrency exchange, is continuing its delisting process with the removal of several trading pairs. In addition to the previously mentioned pairs, the isolated margin pairs FARM/BUSD, LSK/BUSD, PLA/BUSD, and SC/BUSD will also be delisted. Starting from June 16, 2023, at 06:00 (UTC), isolated margin borrowings for these pairs will be suspended prior to their eventual delisting.

Starting from the specified time, users will no longer have the ability to borrow the affected assets for isolated margin trading. When the delisting process begins on June 22, 2023, at 09:00, Binance Margin will initiate the settlement for users, automatically perform payments, and isolate the assets including FARM/BUSD, LSK/BUSD, MBL/BUSD, PLA/BUSD, PUNDIX/BUSD, and SC/BUSD. Additionally, all pending orders associated with these margin pairs will be canceled.

Also Read: Binance to Delist Altcoin Pairs from Margin Trading

During the delisting process, the affected pairs, including FARM/BUSD, LSK/BUSD, MBL/BUSD, PLA/BUSD, PUNDIX/BUSD, and SC/BUSD, will be removed from the isolated margin trading section. Furthermore, the MBL/BUSD and PUNDIX/BUSD cross-margin pairs will also be removed from the cross-margin trading section. It is important to highlight that users will not be able to modify or update their positions while the delisting is taking place.

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To safeguard their assets, users are strongly urged to close their positions and transfer funds from Margin Wallets to Spot Wallets prior to the cessation of margin trading at 2023-06-22 09:00. Binance will not assume liability for any potential losses that may arise from non-compliance with this guidance.

The delisting of these pairs by Binance Margin is aimed at enhancing trading opportunities and establishing a stable and efficient trading environment for its users. Through regular evaluation and adjustment of existing trading pairs, Binance Margin strives to maintain a dynamic and responsive trading platform.

Also Read: Binance to list two new altcoins!

Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.

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