Binance, one of the leading cryptocurrency exchanges, has recently announced important updates regarding network upgrades, margin pair delistings, and spot trading pair removals in a series of announcements. Here are the details…
Binance supports IOTX update
Binance will support the IoTeX (IOTX) network upgrade and hard fork, which is scheduled to occur at block height 26,704,441, or approximately at 02:59 UTC on November 6, 2023. To facilitate this process, deposits and withdrawals of token(s) on the IoTeX network will be suspended starting approximately November 6, 2023, 02:00 UTC. It is important to note that trading of token(s) on the IoTeX network will not be affected and Binance will meet all relevant technical requirements for its users. Deposits and withdrawals will reopen once the upgraded network is deemed stable and no further announcements are expected.
There are coins that will go crazy on margin
In other news, Binance Margin announced that several cross margin and isolated margin pairs have been delisted as of November 9, 2023, 09:00 UTC. Affected pairs include ADA/BUSD, AGIX/BUSD, APE/BUSD, AVAX/BUSD, BAKE/BUSD, BCH/BUSD, DOGE/BUSD, DOT/BUSD, FIL/BUSD, FRONT/BUSD GALA/BUSD, LINK/BUSD, LTC/BUSD, LUNA/BUSD, LUNC/BUSD, MATIC/BUSD, OP/BUSD, RUNE/BUSD, SHIB/BUSD, TRB/BUSD, USTC/BUSD, XLM/BUSD and YGG/BUSD.
To manage this transition, Binance Margin will suspend isolated margin borrowing on these pairs as of November 3, 2023. On November 9, the delisting date, Binance Margin will close users’ positions, perform an automatic settlement, and cancel all pending orders for these pairs. These pairs will then be removed from the Margin. Users are encouraged to trade these assets on other available trading pairs on Binance Margin. It is very important that users know that they will not be able to update their positions during the delisting process, and they are strongly advised to close their positions or transfer their assets from Margin Wallets to Spot Wallets before the margin trading halt on November 9th, as Binance will not be responsible for any possible losses.
Delist spot trading pairs
Finally, in line with its commitment to maintaining a high-quality trading market, Binance conducts periodic reviews on all listed spot trading pairs. As a result of the latest investigations, the exchange will remove and halt trading of the following spot trading pairs:
- As of November 3, 2023, 06:00 UTC: CAKE/BUSD, COMP/BUSD, CRV/BUSD, EOS/BUSD, FIDA/BUSD, FLOW/BUSD, GLMR/BUSD, GRT/BUSD, HFT/BUSD, ICP/BUSD, KEY/BUSD, LDO/BUSD, LEVER/BUSD
- As of November 3, 2023, 08:00 CET: MAGIC/BUSD, MASK/BUSD, MKR/BUSD, MULTI/BUSD, OG/BUSD, PHB/BUSD, PYR/BUSD, SANTOS/BUSD, T/BUSD, UNI/BUSD, XMR/BUSD, XVG/BUSD
The delisting of these spot trading pairs will not affect the availability of tokens on Binance Spot. Users can continue to trade the base assets of these pairs on other trading pairs available on Binance. Finally, users are recommended to convert their BUSD holdings to other existing assets on Binance before February 2024.