Cryptocurrency exchange Binance announced today that some pairs will be delisted from Margin trading. The announcement reveals that several altcoins are included. MDX, SEI/TUSD, SUI, ALPACA, ARKM, and CHESS are among them. Let’s look at the details.
Binance Delists Some Margin Trading Pairs
According to the announcement by Binance, on May 31, 2024, at 09:00 Turkish time, Binance Margin will bid farewell to several margin trading pairs. Specifically, the platform will remove the following pairs from cross margin offerings: MDX/BTC, SEI/TUSD, and SUI/TUSD. Similarly, the isolated margin pairs to be removed include ALPACA/BTC, ARKM/TUSD, CHESS/BTC, MDX/BTC, SEI/TUSD, and SUI/TUSD.
These changes require investors to take some urgent actions. Binance Margin will suspend isolated margin borrowing for the affected pairs starting from May 24, 2024, at 09:00 Turkish time. This suspension serves as an important reminder for users to start planning their next steps as it precedes the broader delisting process.
Until May 31, 2024, at 09:00 Turkish time, Binance Margin will continue to close existing user positions, perform automatic settlements, and cancel all pending orders related to these pairs. After this process, the pairs will be officially removed from the margin trading platform.
Steps to Take Before Delisting
Binance Margin advised its users to take measures to mitigate potential financial impacts. Investors should close their positions well before the deadline and transfer their assets from Margin Wallets to Spot Wallets. This precaution will help prevent unwanted outcomes during the delisting process.
Although these pairs are being removed from the margin trading list, it is important to note that users will still have the option to trade the affected assets through other existing pairs on Binance Margin. This flexibility will allow investors to continue their activities with minimal disruption, provided they adjust their strategies accordingly.
