Major cryptocurrency exchange Binance continues its clean-up of trading pairs focusing on the stablecoin BUSD. Binance’s margin trading platform, Binance Margin, has recently announced that it will remove leverage for 30 trading pairs in cross-margin and isolated margin.
Trading Pairs Whose Leverage Binance is Removing
Binance, the world’s largest cryptocurrency exchange in terms of trading volume, recently announced that it will remove leverage for 30 trading pairs focusing on BUSD in cross-margin and isolated margin. Binance Margin will remove leverage for the following 30 trading pairs on October 26 at 09:00 AM UTC:
AUCTION/BUSD, ALGO/BUSD, APT/BUSD, ATOM/BUSD, AXS/BUSD, COMP/BUSD, CRV/BUSD, DODO/BUSD, DYDX/BUSD, EGLD/BUSD, ETC/BUSD, EOS/BUSD, FLOW/BUSD, FTM/BUSD, GLMR/BUSD, GMT/BUSD, HBAR/BUSD, KEY/BUSD, LDO/BUSD, LEVER/BUSD, LINA/BUSD, MAGIC/BUSD, MANA/BUSD, MASK/BUSD, NEAR/BUSD, ONE/BUSD, RNDR/BUSD, TRX/BUSD, UNI/BUSD, and VET/BUSD.
Binance Margin will suspend borrowing for the aforementioned trading pairs in isolated margin on October 20 at 09:00 AM UTC. On October 26 at 09:00 AM UTC, Binance Margin will automatically settle users’ positions and cancel all pending orders. After this process, the trading pairs will be completely removed. However, trading operations for altcoins such as AUCTION, ALGO, APT, and ATOM will continue on other trading pairs.
What is a Crypto Trading Pair?
A crypto trading pair is a term used in financial markets where cryptocurrencies are exchanged with each other. It represents the value of one cryptocurrency against another. In the crypto market, the value of a cryptocurrency against other cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH) is often used.
Crypto trading pairs are typically displayed in a format such as “BTC/USD” or “ETH/BTC”. The first currency represents the cryptocurrency being traded, while the second currency represents the reference unit used to measure the value of the traded cryptocurrency. For example, the “BTC/USD” pair shows the value of Bitcoin against the US dollar (USD). The “ETH/BTC” pair represents the value of Ethereum against Bitcoin.
Crypto trading pairs are an essential part of cryptocurrency trading and provide important information for investors to measure the value of cryptocurrencies, conduct trades, and perform market analysis. They are also used to track the values of cryptocurrencies against each other, search for arbitrage opportunities, and develop investment strategies.
