Ethereum

Bitcoin

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
The world's leading cryptocurrency exchange by trading <a href="https://u.today/ethereum-eth-3000-mark-confirmed-solana-sol-fails-unexpectedly-dogecoin-doge-reaches-nemesis" rel="noopener noreferrer nofollow">volume</a> has signaled a significant shift in its product offerings. Effective Feb. 28, 2024, at 6:00 p.m. (UTC), Binance will suspend trading and subscription services for <a href="https://www.binance.com/en/support/announcement/updates-on-binance-leveraged-tokens-services-b982e8502e0d4a42aec8191a878f7895" rel="noopener noreferrer nofollow">leveraged tokens</a>, with a subsequent end to redemption services and the eventual delisting of these products.&nbsp;
The move affects popular trading pairs including BNBUP/USDT, BNBDOWN/USDT, ETHUP/USDT, ETHDOWN/USDT, BTCUP/USDT and BTCDOWN/USDT.
Leveraged tokens have been a niche offering on the platform, allowing traders to gain leveraged exposure to cryptocurrency markets without the complexities of managing a margin account. <img alt="SHIBUSDT Chart" data-entity-type="file" data-entity-uuid="8146940b-07ee-4ae8-a884-0baa8033fc8c" src="https://u.today/sites/default/files/inline-images/image_494.png"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">SHIB/USDT Chart by TradingView</a>
The leveraged tokens to be delisted&nbsp; include two BNB pairs, two <a href="https://u.today/ethereum-whale-buys-1557-million-in-eth-as-price-nears-3000" rel="noopener noreferrer nofollow">ETH</a> pairs and two Bitcoin pairs. These tokens represent a basket of perpetual contract positions, designed primarily for short-term trading strategies. They are distinctive in that they automatically rebalance on a daily basis, differentiating them from traditional margin leveraged products. For a more detailed understanding, Binance has provided additional information on its blog.
The schedule for the cessation of services is as follows: trading and subscription services for all affected leveraged tokens will be suspended on February 28, 2024, at 6:00 p.m. (UTC).
Following this date, automatic cancellation of all existing trade orders for these <a href="https://u.today/shib-team-plans-to-burn-bone-and-all-other-top-shibarium-tokens-details" rel="noopener noreferrer nofollow">tokens</a> will occur.
Users are encouraged to trade or redeem these tokens before the suspension. After the cessation date, redemption can still be carried out via the wallet interface or the dedicated Leveraged Tokens page until the moment of delisting.
Subsequent to the delisting, any remaining leveraged tokens will be converted to USDT based on the net asset value (NAV) at the time of delisting. This USDT will be credited to users' accounts within a 24-hour window.

Binance to Delist Six Bitcoin, Ethereum and BNB Trading Pairs

U_Today

Другие статьи, опубликованные 19 февр. 2024 г.

Solana Price Trends and Analyst Insights

Ethereum Price Prediction: ETH Soars 17% In A Week As Bernstein Says ETH ETFs Are Almost Certain ...

Fantom (FTM) Co-Founder Andre Cronje Praised This Blockchain Gaming App

Xcad Network Founder Defends KSI Against Pump-and-Dump Accusations

Bitcoin’s NVT Ratio Signals Overheated Sentiment! Here’s Why BTC Price Needs A Retest

Will Bitcoin hit $69k before halving event?

Join our free newsletter for daily crypto updates!