To enhance user experience and streamline its offerings, Binance, the largest cryptocurrency exchange, has announced the delisting of six perpetual contracts trading pairs.
Binance is always looking to improve the user experience, and this move signifies Binance’s commitment to providing an efficient trading environment by delisting unused pairs.
The delisted contracts include STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT. The delisting process will be implemented in two phases. The first phase, commencing on May 6, will involve adjustments to the leverage and margin tiers for these contracts.
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This adjustment aims to manage potential risks associated with these soon-to-be-delisted instruments. Existing positions will be subject to these adjustments, and users are encouraged to closely monitor their holdings and make necessary modifications to avoid potential liquidations.
The second phase, scheduled for May 13 and 14, will see the complete delisting of the aforementioned contracts. On May 13, Binance Futures will initiate the closure of all open positions and execute automatic settlements for STPTUSDT, SNTUSDT, and MBLUSDT contracts. This process will be repeated on May 14 for RADUSDT and CVXUSDT contracts.
Binance urges users to close active positions in these contracts before the designated delisting dates to ensure a smooth transition. New position openings for these contracts will be disabled starting from May 13 for the first three contracts and May 14 for the latter two.
Binance’s decision to delist these contracts comes shortly after a major expansion into Japan for XRP, SHIB, and other cryptocurrencies through the introduction of new trading pairs against the Japanese Yen.
The deletion of the trading pairs stems from a strategic focus on maintaining active and liquid markets. The exchange continuously evaluates its offerings based on various factors, including trading volume.
By delisting contracts with declining volume, Binance can concentrate resources on facilitating cryptocurrency trades with a more robust and engaged user base. This prioritization of liquidity translates to a more efficient trading experience for users globally. Additionally, a streamlined offering allows Binance to optimize its operational efficiency.
Read Also: Binance Announces Delisting of 17 Tokens, Including Shiba Inu, Cardano
These Practices are among the many reasons Binance is the biggest exchange in the world. The company knows how to cater to the right users and reach the right markets. The faith users have in Binance extends to projects the exchange supports, like the Terra Classic (LUNC) ecosystem.
Binance has been a strong supporter of the Terra Classic revival process since the ecosystem collapse. With Binance’s backing, the LUNC revival could come sooner than many anticipate.
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