Yorg Healer
December 3, 2024 05:08
Binance has announced the delisting of several margin trading pairs, including BAND/BTC and GTC/BTC, effective December 11, 2024, affecting both crossed and isolated margin accounts.
Leading cryptocurrency exchange Binance recently announced plans to delist several margin trading pairs starting December 11, 2024. This delisting affects both cross-margin and isolated-margin trading pairs, with notable pairs such as BAND/BTC and GTC/BTC among the pairs affected.
Impact on Margin Trading Accounts
Users will no longer be able to transfer assets of delisted pairs to an isolated margin account via manual transfer or automatic transfer modes. Binance advised users with outstanding debt to manually transfer the amount of the debt, excluding existing collateral, to an isolated margin account.
Starting December 4, 2024, Binance Margin will cease isolated margin borrowing for affected pairs. Afterwards, on December 11, 2024, all user positions will be closed, automatic settlement will occur and all pending orders for that pair will be cancelled.
Recommendations for users
Binance strongly recommended that users close positions and transfer assets from margin wallets to spot wallets before the delisting process is completed to avoid potential losses. During the delisting process, users will not be able to update their positions.
Ongoing trading opportunities
Despite the delisting, users can continue to trade the affected assets on other available trading pairs on Binance Margin. This gives users the opportunity to continue trading these assets without interruption.
Potential Risks and Considerations
Binance sent out a reminder about the risks associated with trading digital assets, emphasizing the importance of understanding market volatility and the potential for significant losses. Users are advised to review their investment strategies and consult a financial advisor if necessary.
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