Binance to Cut Multiple Perpetual Contracts: These Three Crypto Pairs Included
Analysis
Price Impact
HighBinance's decision to delist perpetual contracts for ponkeusdt, swellusdt, and quickusdt significantly reduces their market liquidity and accessibility for futures traders. this often leads to a rapid sell-off as traders close positions, especially for smaller-cap altcoins where a major exchange's support is crucial.
Trustworthiness
HighThe information comes directly from official binance announcements regarding futures contracts delistings and adjustments, making it highly reliable.
Price Direction
BearishThe delisting of perpetual contracts removes a key trading avenue, likely triggering forced closures of existing positions and deterring new investment, which typically results in downward price pressure for the affected tokens.
Time Effect
ShortThe delisting and automatic settlement are scheduled for november 28th, indicating an immediate effect on the price as traders react and close positions around this specific date.
Original Article:
Article Content:
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Major crypto exchange Binance has revealed delistings of multiple perpetual contracts, with three crypto pairs set to be axed. Advertisement According to an announcement , Binance Futures will close all positions and conduct an automatic settlement on PONKEUSDT, SWELLUSDT and QUICKUSDT Perpetual Contracts on Nov. 28 at 9:00 a.m. (UTC). The contracts will be delisted after the settlement is complete. Users will not be allowed to open new positions for the contracts starting from Nov. 28 at 8:30 a.m. (UTC). HOT Stories Morning Crypto Report: XRP Bags $164 Million for ETF, Shiba Inu (SHIB) to Lose Zero, Insane $1.75 Billion Option Bet on Bitcoin Price to Rise Portnoy Teases XRP Bears: 'Imagine Not Buying the Dip?' Crypto Market Prediction: $1,400,000,000 Bitcoin (BTC) Carnage Over, Ethereum (ETH) Crash Might Not Stop, Shiba Inu (SHIB) Market Collapse Ending Famous Short Seller Mocks Saylor for Not Buying Bitcoin Dip In light of this, Binance urged its users to close any open positions prior to the delisting time to avoid automatic settlement. Advertisement In a separate announcement, it stated that Binance Futures will update the leverage and margin tiers of Perpetual Contracts VFYUSDT, BASUSDT, ZKJUSDT, LYNUSDT, LABUSDT, PTBUSDT, PROMPTUSDT, RECALLUSDT, QUSDT, VINEUSDT and CROSSUSDT (USDⓈ-M Perpetual Contract) on Nov. 28 at 6:30 a.m. (UTC). In order to increase market liquidity and improve users’ trading experience, Binance will adjust the tick size of several perpetual Futures Contracts, including BEATUSDT, BLUAIUSDT, TURTLEUSDT, ENSOUSDT, CYBERUSDT, EDENUSDT and ANKRUSDT on Nov. 27 at 7:00 a.m. (UTC). Binance Banking Triparty Binance has announced several enhancements to the Binance Banking Triparty solution, designed to provide institutional and VIP users with greater flexibility and capital efficiency, including adding new collateral assets. Binance has announced it will accept the Swiss franc (CHF) as an eligible collateral asset that users can hold off-exchange via the triparty solution. This follows Binance’s recent announcement of supporting BlackRock’s BUIDL token as off-exchange collateral. In November 2023, Binance became the first crypto exchange to pilot a banking triparty arrangement. The solution allows Binance users to hold traditional collateral such as fiat currency and Treasury bills off-exchange, in their own corporate account, with a regulated third-party bank. #Binance