Binance to Remove These Bitcoin Margin Trading Pairs; Details
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Binance, the largest crypto exchange by trade volume, has announced that it will delist some Bitcoin margin trading pairs involving three tokens. In a bid to offer a better user experience, the exchange giant has informed its users of the move that will affect both Cross and Isolated Margin Trading pairs.
Binance continues to regularly update its offerings as a part of its broader strategy to position itself as a leading crypto exchange. The prices of the affected tokens might take a significant hit in the coming days following the trading pair’s removal from the platform.
Binance to Delist Margin Trading Pairs for DGB, TLM, and VOXEL
In an announcement dated July 7, the Malta-based crypto exchange said that it will delist margin trading pairs involving DigiByte (DGB), Alien Worlds (TLM), and Voxies (VOXEL). Specifically, the pairs to be removed are DGB/BTC and TLM/BTC for both Cross and Isolated Margin trading pairs, and VOXEL/BTC for only Isolated Margin trading.
According to the announcement, Binance will delist the aforementioned pairs on July 8, at 06:00 (UTC). Additionally, Binance informs its users that it will suspend isolated margin borrowing for the mentioned pairs on July 7, at 06:00 (UTC). Also, on the deadline, Binance will automatically close all user’s positions, cancel all pending orders, and carry out an automatic settlement on the mentioned trading pairs. Following this, the pairs will be removed from the Margin.
Binance emphasized that the delisting of these trading pairs from the platform does not constitute a removal of the affected tokens as an offering, instead, users can continue to trade the assets against other trading pairs available on Binance Margin. Ultimately, Binance advised users to take proactive measures by updating their positions and transferring assets from Margin wallets to Spot wallets before the cessation date to avoid potential losses, stressing that users will not be able to make changes during the delisting process.
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Victor Swaezy
Victor Nnamdi Igbor "Swaezy" is a crypto enthusiast and writer with over 8 blogging experience. He is an easy person and when not working, loves to have a good time.
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