Binance Bitcoin Exchange to Update Altcoin Trading Pairs in Futures Markets

In an important development, Binance Futures has announced that it will be delisting and updating the leverage and margin tiers of several COIN-M perpetual contracts. Specifically, the COIN-M KNCUSD, ICXUSD, XTZUSD, ROSEUSD, and APEUSD contracts will be affected by this decision.

The delisting process will involve closing all positions and conducting automatic settlement on the COIN-M perpetual contracts for KNCUSD, ICXUSD, and XTZUSD on May 20, 2024 at 12:00 AM. Similarly, the COIN-M perpetual contracts for ROSEUSD and APEUSD will undergo the same process on May 21, 2024 at 12:00 AM. Once the settlement is completed, these contracts will be removed from the list of available options on Binance Futures.

Furthermore, Binance Futures plans to adjust the leverage and margin levels of the aforementioned contracts on May 10, 2024 at 13:30. This adjustment will impact existing positions that were opened before the update. Users are strongly encouraged to review and modify their positions and leverage to avoid potential liquidation risks.

To safeguard users and mitigate risks during periods of extreme market volatility, Binance Futures may implement additional protective measures for the relevant contracts without prior notice. These measures could involve changes to maximum leverage values, position values, maintenance margins at various collateral tiers, funding rates, price index components, and the use of the Last Price Protected mechanism to update the Mark Price.

It is important to note that the information provided in this announcement is not intended as investment advice. Users are urged to exercise caution and stay informed about any updates or changes to the affected contracts on Binance Futures. By proactively managing their positions and leverage, users can help minimize the potential impact of these delistings and adjustments on their trading activities.

In conclusion, Binance Futures’ decision to delist and update the leverage and margin tiers of certain COIN-M perpetual contracts is aimed at enhancing the safety and stability of the platform for its users. By staying informed and adapting their trading strategies accordingly, users can navigate these changes effectively and continue to participate in the cryptocurrency derivatives market with confidence.