Several Margin Trading Pairs will be Delisted by Binance on August 22, 2024 🚫

Summary of Binance Delisting Margin Trading Pairs

Binance, a prominent cryptocurrency exchange, has announced the removal of several margin trading pairs, set to take effect on August 22, 2024. This move will impact both cross margin and isolated margin pairs. Here are the details you need to know:

Details of the Delisting

The affected margin trading pairs are as follows:

Cross Margin Pairs: BICO/BTC, DAR/BTC
Isolated Margin Pairs: BICO/BTC, BNT/BTC, DAR/BTC, UTK/BTC

Binance has outlined the following timeline for the delisting process:

Isolated margin borrowing for these pairs will be halted on August 19, 2024, at 06:00 UTC.
On August 22, 2024, at 06:00 UTC, positions will be closed, automatic settlements will take place, and all pending orders for the affected pairs will be canceled.

User Advisory

As a user, it is crucial to take the following actions before the delisting date to safeguard your assets:

Close your positions.
Transfer assets from Margin Wallets to Spot Wallets.

It is important to note that no position updates will be possible during the delisting process. However, the assets can still be traded on other available pairs within Binance Margin.

Disclaimer and Risk Warning

Given the volatile nature of digital asset prices, Binance has issued a disclaimer regarding market risks. The company will not be held responsible for any losses incurred during the delisting. Before engaging in trading activities, users are urged to assess their investment experience, financial status, and risk tolerance carefully.

For additional information, kindly refer to the original announcement on the Binance platform.

Hot Take: Stay Informed and Take Action

Stay informed about the delisting of margin trading pairs on Binance and take the necessary actions to protect your assets. By closing positions and transferring assets proactively, you can mitigate potential losses and continue trading on alternative pairs within the exchange. Remember to consider the risk factors involved in trading digital assets and make well-informed decisions.