Binance Delists a Series of Leveraged Tokens

Binance advises users to proactively convert their tokens in the delisting list into other assets before the deadline.

Binance Delists A Series Of Leveraged Tokens_65d5e25f5d43d.webp

According to the latest announcement, Binance will delist several leveraged tokens paired with Bitcoin (BTC), Ethereum (ETH), and BNB starting from April 3, 2024.

The affected trading pairs include BTCUP/USDT, BTCDOWN/USDT, ETHUP/USDT, ETHDOWN/USDT, BNBUP/USDT, and BNBDOWN/USDT. Binance will also suspend trading services for these leveraged tokens at 06:00 AM on February 28th (UTC).

Z

Here is the schedule for the delisting of leveraged token pairs.

Register for Binance’s cryptocurrency trading to receive various benefits here.

Binance will automatically cancel all transactions related to these tokens at the specified deadline. The exchange will gradually delist and stop buying back tokens from April 1st to April 3rd. Users can swap tokens before the delisting date.

In case users do not actively swap their tokens, the exchange will convert the balance into USDT based on the token price on the delisting date. Binance will distribute the tokens to users’ accounts within 24 hours and remove the leveraged tokens from wallets.

Binance’s leveraged tokens are derivative products that allow investors to have leveraged exposure to the associated cryptocurrencies. These tokens represent a basket of perpetual contract positions and are affected by price fluctuations in the perpetual contract market.

Related: Binance Announces Listing of Starknet (STRK)

Leveraged tokens are a type of derivative product that enables users to access leveraged positions without collateralizing assets or relieving liquidation risks.

Despite the numerous benefits, Binance still warns that leveraged token trading often comes with other risks such as market volatility, price discrepancies, and various fees.

(100 votes)

5.0/5

(100 votes)

Latest

The American Bank Urges Customers To Sell These 3 Coins

Altcoin | Editor Choice | Policy & Regulations

The American Bank Urges Customers to Sell These 3 Coins

The federally licensed digital bank Anchorage Digital has urged customers to withdraw funds from USDC, AUSD, and USD0.

Coinbase Stock Hits New High As Analysts Split On Future Rally

News | Altcoin | Editor Choice | Policy & Regulations

Coinbase Stock Hits New High as Analysts Split on Future Rally

Coinbase (COIN), the crypto exchange giant, has just set a new all-time closing high, despite growing concerns that the stock may be due for a short-term correction.

Ai Crypto App Users Double This Year

Editor Choice | Altcoin

AI Crypto App Users Double This Year

According to a report from DappRadar, there are approximately 4.5 million wallets using AI applications on the blockchain, marking an 86% increase this year.

Aqua 1 Invests $100 Million In World Liberty Financial

Editor Choice | Altcoin

Aqua 1 Invests $100 Million in World Liberty Financial

Aqua 1 Investment Fund has decided to invest 100 million USD in World Liberty Financial (WLFI), a DeFi project backed by the Trump family.

Rlusd Expands To 20 Million Merchants, Aims To Compete With Usdc

News | Altcoin | Editor Choice | Policy & Regulations

RLUSD Expands to 20 Million Merchants, Aims to Compete with USDC

Ripple teams up with Aeon to bring the RLUSD stablecoin and XRP token into the Web3 payment system, expanding spending capabilities to over 20 million retail locations across Southeast Asia.