Binance Margin Delists 6 New Isolated Margin Pairs On June 19th

Key Points:

• Binance Margin will delist six margin pairs on June 19, 2023, and will conduct an automatic settlement, close users’ positions, and cancel all pending orders.
• The exchange warned users to close their positions or transfer their assets from Margin Wallets to Spot Wallets before the cessation of margin trading.
• Binance experienced significant net outflows of multi-chain assets, while a deep decline was reported in the Binance exchange coin BNB.

Binance Margin will delist six margin pairs on June 19, 2023 and warns about potential losses. Margin trading will cease on June 19, 2023. Binance Margin also to close users’ positions for six isolated margin pairs.

Binance Margin has announced that it will delist six isolated margin pairs on June 19, 2023, including BNT/BUSD, CVX/BTC, POLS/BUSD, POWR/BUSD, STPT/BUSD, and STRAX/BUSD. The exchange has also provided a timeline of events leading up to the delisting. On June 13, 2023, Binance Margin will suspend isolated margin borrowing for these pairs.

At the time of delisting, Binance Margin will close users’ positions, conduct an automatic settlement, and cancel all pending orders for these pairs. Users are advised to close their positions or transfer their assets from Margin Wallets to Spot Wallets prior to the cessation of margin trading on June 19, 2023, as they will not be able to update their positions during the delisting process. Binance has warned users that it will not be responsible for any potential losses resulting from the delisting.

In the past seven days, Binance experienced significant net outflows of multi-chain assets (excluding Bitcoin) and Binance US. Coinbase and Coinbase Custody also saw significant net outflows. Meanwhile, Coincu reported that Binance exchange coin BNB is experiencing a deep decline, partly due to the ongoing legal battle and partly due to the recent actions of a whale.

Stay informed about delisting announcements and their potential impact on their positions. Delisting can cause price volatility and may lead to losses, so traders should always be prepared for such events. Traders should also consider diversifying their portfolios to reduce their exposure to any single asset or exchange.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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