Binance, the largest cryptocurrency exchange in terms of daily trading volume, made a new “delist” announcement. In other words, the exchange announced that it will remove certain altcoins from some services on the exchange. The latest delist transaction in question will be for isolated and cross margin transactions. Here are the details…
Binance removes these altcoins from margin trading
Binance, the largest cryptocurrency exchange in terms of trading volume, made a new announcement. According to the announcement, Adventure Gold (AGLD), Streamr (DATA), Ethernity Chain (ERN), FIO Protocol (FIO), Troy (TROY); It will not be one of the cross-margin coins offered by the exchange. These coins will come out of the cross-margin as loanable assets. As a result, the following crypto currency pairs will be removed from trading on January 19, 2023, at 09.00 Turkish time:
Detailed information about the process
On the other hand, the pair that will be delisted in terms of isolated margin will be KEY/USDT. The process will proceed as follows:
- As of 09:00 on January 9, 2023, Binance, AGLD/BTC, AGLD/BUSD, AGLD/USDT, DATA/BUSD, DATA/USDT, ERN/BUSD, ERN/USDT, FIO/BUSD, FIO/USDT, TROY/BUSD and will suspend the cross margin borrowing process in TROY/USDT. Likewise, the KEY/USDT isolated margin borrowing process will also be suspended.
- 10 days later, as of 09:00 on 19 January 2023, Binance, AGLD/BTC, AGLD/BUSD, AGLD/USDT, DATA/BUSD, DATA/USDT, ERN/BUSD, ERN/USDT, FIO/BUSD, FIO/USDT, TROY In the /BUSD and TROY/USDT cross margin pairs, as well as the KEY/USDT isolated margin pair, the user will close their positions, perform an automatic clearing and cancel all pending orders. They will then remove these pairs from the cross margin and isolated margin list.
- Users are strongly advised to close their positions before margin trading expires to avoid any potential losses.
- Portfolio margin users are advised to transfer the aforementioned tokens from their margin wallets to their spot wallets and, if necessary, top up their margin balance before January 19.
The stock market performed quite well in 2022
Meanwhile cryptocoin.com As reported by Arcane Research, the world’s largest crypto exchange Binance’s Bitcoin (BTC) trading volume market share rose to 92% by the end of 2022. The market share of the exchange was only 45% at the beginning of last year, but the removal of trading fees in June and the collapse of rival FTX in November pushed users to Binance. “No matter how you look at it in terms of trading activity, Binance is the crypto market,” Arcane wrote. “After raising transaction fees for BTC spot pairs this summer, Binance has fully taken over all market share in the spot market,” he added.