Binance to Discontinue Support for Leveraged Token Pairs
Binance, the world’s largest cryptocurrency exchange, has announced that it will no longer support certain leveraged token pairs. This decision is part of Binance’s ongoing efforts to refine its product offerings and provide users with the most valuable and competitive services.
Cessation of Trading and Subscription Options
By April 3, Binance will discontinue support for the following leveraged token pairs: BNBUP/USDT, BNBDOWN/USDT, ETHUP/USDT, ETHDOWN/USDT, BTCUP/USDT, and BTCDOWN/USDT. Trading and subscription options for these tokens will be terminated on February 28.
Conversion to USDT
If you still hold any of the delisted tokens after the specified time, Binance will convert them to USDT based on their net asset value (NAV) at the time of delisting. The converted USDT tokens will be distributed to your account within 24 hours.
About Binance Leveraged Token Pairs
Binance leveraged token pairs are designed for short-term trading and provide users with leveraged exposure to specific digital assets without margin requirements. However, these tokens have faced controversy since their introduction in 2020, as some traders struggled to understand their structure and incurred losses as a result.
Previous Delistings by Binance
This is not the first time Binance has delisted assets this year. Earlier in February, the exchange announced the discontinuation of Monero (XMR), Aragon (ANT), Multichain (MULTI), and Vai (VAI) starting from February 20.
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