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Binance Futures to Delist Five Perpetual Contracts: STPT, SNT, MBL,RAD, and CVX

Synopsis: Binance Futures announces some changes in their perpetual contracts delisting their 5 tokens: STP (STPTUSDT), Status (SNTUSDT), MovieBlock (MBLUSDT), Radworks (RADUSDT), and Convex (CVXUSDT).

Binance Futures
Binance Futures to Delist Five Perpetual Contracts: STPT, SNT, MBL,RAD, and CVX 2

Binance, the crypto trading platform has announced significant changes in its terms. Their exchange plan is to delist some of their terms for STP (STPTUSDT), Status (SNTUSDT), MovieBlock (MBLUSDT), Radworks (RADUSDT), and Convex (CVXUSDT) perpetual contracts.

The Binance Futures exchange will be updating its leverage and margin criteria for the specified contracts starting on May 6, 2024, at 10.30 UTC. This modification is a precautionary step to improve trading safety and adapt to market conditions.

It is recommended that traders in these futures review their approaches, especially regarding the use of leverage settings, to prevent possible liquidations.

Why Binance Futures are delisting the tokens?

Binance has not issued an official statement regarding the specific reasons for the delisting but a tweet on X as seen below:

However, the following are some reasons that might apply based on industry standards:

Low Liquidity: On the Binance Futures platform, there might not be much trading activity for these tokens. It is more difficult for traders to initiate and leave positions profitably when there is little liquidity, which might affect their capacity to manage risk.

Price Volatility: These coins’ high price volatility raises the possibility of dangers related to trade leverage. Binance Futures may be attempting to reduce possible losses for traders who use leverage by delisting these products.

Exchange Policy: Exchange activity, risk management, and market circumstances are probably among the internal criteria that Binance Futures uses to determine whether contracts should be delisted. These internal evaluations may lead to the delisting.

What Lies in the Store for Investors?

The delisting of these five perpetual contracts signifies a shift in Binance Futures’ offerings. Traders need to stay updated on such changes and adjust their strategies accordingly. By closely monitoring announcements and understanding the potential reasons behind these decisions, leveraged cryptocurrency traders can navigate the dynamic landscape of crypto derivatives trading more effectively.

The information shared here is for educational purposes only and should not be considered financial advice. Before making any trading decisions, one should conduct their research, consider their risk tolerance, and consult a qualified financial advisor if necessary.

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The content presented here may express the author’s personal opinions and is subject to change based on market conditions. It is crucial to conduct your own market research before investing in any cryptocurrency. Neither the author nor this publication assumes any responsibility for any financial losses you may incur.