Cryptocurrency exchanges occasionally make decisions regarding altcoins. The latest development comes from the cryptocurrency exchange HTX. HTX announced that it will remove the SNT/USDT perpetual contract from its futures list at 11:00 AM Turkey time on May 16, 2024.
Why Did HTX Take This Decision?
HTX‘s decision represents an important step for perpetual futures. The main reason behind this decision is the platform’s desire to comply with token management rules.
An important point to consider during the closure of perpetual contracts is the determination of the delivery price. HTX will use the arithmetic average of the index prices in the last hour for closed positions. This development is seen as an indicator of a fair and transparent process.
However, it would be wrong to think that these changes will only affect transaction processes. Investors need to be cautious about managing the risks of these changes. Particularly, price fluctuations that may occur during the delisting process should be considered.
Users Will Not Encounter Any Costs
HTX also stated that users will not face any costs during this process. On the day of delisting, during delivery, no capital fees or other charges will be required. This means that users can be financially comfortable during this transition period.
Marking the delisted perpetual accounts as “Suspended” and their disappearance from HTX a week later helps users understand more clearly what to expect during this process. Additionally, it is guaranteed that assets will not be affected and past data will be accessible.
