Binance, a leading cryptocurrency exchange, announced the removal of several margin trading pairs from its platform. This move, affecting multiple altcoins, will take place on May 31, 2024, at 09:00 Turkish time. Key pairs to be delisted include MDX, SEI/TUSD, SUI, ALPACA, ARKM, and CHESS. These changes necessitate immediate actions from investors to adapt to the new trading landscape.
Which Pairs Are Being Delisted?
In its formal announcement, Binance specified that the pairs to be removed from cross margin offerings are MDX/BTC, SEI/TUSD, and SUI/TUSD. Additionally, isolated margin pairs such as ALPACA/BTC, ARKM/TUSD, CHESS/BTC, MDX/BTC, SEI/TUSD, and SUI/TUSD will also be delisted. This comprehensive removal aims to streamline the trading options and enhance platform efficiency.
What Actions Should Investors Take?
Starting May 24, 2024, Binance Margin will halt isolated margin borrowing for the affected pairs. Users are urged to plan their next steps promptly. The exchange will continue to close existing positions, conduct automatic settlements, and cancel all pending orders until the final delisting on May 31, 2024.
Steps to Ensure a Smooth Transition
Binance Margin has provided guidance for users to mitigate financial repercussions:
- Close positions well before the delisting deadline.
- Transfer assets from Margin Wallets to Spot Wallets to avoid disruptions.
- Explore trading the affected assets through other available pairs on Binance.
These steps are crucial to minimize losses and ensure a seamless transition as the platform undergoes these significant changes.
Even though these pairs are being removed, users will still have the ability to trade the impacted assets using alternative pairs on Binance Margin. This flexibility allows investors to maintain their trading activities with minimal interference, provided they adjust their strategies accordingly.