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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.
Binance Margin, which offers Margin Trading to users, consists of Cross Margin, Isolated Margin and Portfolio Margin.
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.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team