Binance Issues Warning: Automatic Closure of All Positions for Two Listed Altcoins!
Binance, the world’s largest cryptocurrency exchange, continues to make changes and take new decisions regarding the altcoins it lists. Recently, Binance announced the removal of Lido DAO (LDO) and Gala Games (GALA) from its listings. According to the announcement, the LDO/BUSD and GALA/BUSD pairs on Binance Futures will be removed through automatic settlement.
LDO/BUSD and GALA/BUSD Pairs to Be Removed from Binance Futures
Binance, the giant cryptocurrency exchange, announced that all positions in the perpetual futures contracts for LDO/BUSD and GALA/BUSD pairs will be closed and automatic settlement will be executed at 12:00 on July 27th. After the automatic settlement, the perpetual futures contracts for these two altcoins in BUSD pairs will be delisted.
Furthermore, Binance will update the leverage and margin levels for LDO/BUSD and GALA/BUSD perpetual futures contracts starting from 17:00 today. All open positions will be affected by the changes before the update. The cryptocurrency exchange advised its users to make the necessary adjustments to their open positions to avoid potential liquidation risks.
Leverage Adjustment for 3 Margin Levels Before Delisting
Before removing LDO/BUSD and GALA/BUSD pairs from futures trading, Binance will make an adjustment to the leverage offered for three margin levels, effective from 17:00 today.
Accordingly, the leverage offered for margin sizes between 0 and 5,000 BUSD will be reduced from 11-20x to 9-10x, for margin sizes between 5,000 and 25,000 BUSD it will be reduced from 9-10x to 7-8x, and for margin sizes between 25,000 and 100,000 BUSD it will be reduced from 6-8x to 6x. The leverage offered for margin sizes between 100,000 and 250,000 BUSD, 250,000 and 1 million BUSD, and 1 million and 2 million BUSD will remain unchanged.
Related Posts
COMMENTS