12 Pairs Gone: Binance Confirms Massive Crypto Margin Delisting in December
Analysis
Price Impact
MedBinance's delisting of 12 margin trading pairs significantly reduces liquidity and trading avenues for these specific altcoins. this removal of leverage trading options is generally a negative signal, likely leading to selling pressure on the affected tokens. while the impact is high for the specific coins, the broader market impact is medium.
Trustworthiness
HighThe information is based on an official announcement directly from binance, a major cryptocurrency exchange.
Price Direction
BearishThe removal of margin trading pairs reduces utility, accessibility, and potential trading volume for the involved tokens. traders currently holding leveraged positions will likely close them before the delisting deadline (dec 4th) to avoid forced settlements, creating selling pressure. new investors will have fewer options to trade these assets, decreasing demand.
Time Effect
ShortThe most significant price action is expected in the period leading up to the delisting date (dec 4th) as traders close positions. while the reduction in liquidity might have a prolonged effect, the immediate and most pronounced price impact from this specific event will be short-term.
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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 What to note Three perpetual contracts delisted Advertisement Major crypto exchange Binance has announced a shakeup to the Binance Margin platform in the upcoming month of December. Twelve unique crypto pairs will be delisted from the Binance Margin platform on Dec. 4 at 6:00 a.m. (UTC). This action affects the trading pairs of Ontology (ONT), Chromia (CHR), Enjin Coin (ENJ) and 0x Protocol (ZRX), among others. The crypto pairs include WAXP/BTC, SXP/BTC, ONT/BTC, ID/BTC, ZRX/BTC, CHR/BTC, ENJ/BTC, ONG/BTC, POWR/BTC, ID/BTC, AGLD/BTC and UMA/BTC. HOT Stories Morning Crypto Report: XRP Unlocks Apple and Google Pay in 40 Countries, Shiba Inu (SHIB) Aims at 32% Upside, Bitcoin Options Spike to $13.1 Billion Crypto Market Prediction: Can Bitcoin Break $90,000 on Recovery March? Shiba Inu (SHIB) Fresh Rally Starts, Is XRP Building Bullish Momentum? Coinbase's Armstrong Angers Bitcoin Maximalists by Praising Ethereum's Buterin Shiba Inu (SHIB) Price to Remove Zero, XRP on Edge of 30% Breakout, Bitcoin (BTC) Prints Insane 36,380% Liquidation Imbalance – Crypto News Digest Binance Margin, which offers Margin Trading to users, consists of Cross Margin, Isolated Margin and Portfolio Margin. Advertisement These trading pairs will be delisted on the Cross Margin and Isolated Margin, with a few, including WAXP/BTC, SXP/BTC, ONT/BTC, ZRX/BTC, CHR/BTC, ENJ/BTC and ID/BTC, to be delisted on both platforms. Specifically, the Cross and Isolated Margin Pairs affected are given below. Cross Margin Pairs: WAXP/BTC, SXP/BTC, ONT/BTC, ID/BTC, ZRX/BTC, CHR/BTC, ENJ/BTC. Isolated Margin Pairs: WAXP/BTC, ONG/BTC, POWR/BTC, SXP/BTC, ONT/BTC, ID/BTC, AGLD/BTC, ZRX/BTC, CHR/BTC, ENJ/BTC and UMA/BTC. What to note Effective immediately, transfers of the trading pairs into Isolated Margin accounts have been paused. On Dec. 2 at 6:00 a.m. (UTC), Binance Margin will suspend isolated margin borrowing on the isolated margin pairs: WAXP/BTC, ONG/BTC, POWR/BTC, SXP/BTC, ONT/BTC, ID/BTC, AGLD/BTC, ZRX/BTC, CHR/BTC, ENJ/BTC and UMA/BTC. On Dec. 4 at 6:00 a.m. (UTC), Binance Margin will close users’ positions, conduct an automatic settlement and cancel all pending orders on cross and isolated margin pairs. The pairs will then be removed from Binance Margin. Users will not be able to update their positions during the delisting process, which may take nearly three hours and are urged to close their positions and/or transfer their assets from Margin Accounts to Spot Accounts prior to the delisting action. Three perpetual contracts delisted As reported this week, Binance announced delistings of multiple perpetual contracts affecting three crypto pairs. In 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. #Binance