- Binance Futures announces the delisting of several USDT perpetual contracts.
- The affected pairs include STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT.
- STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT react after the delisting announcement.
According to a recent announcement, Binance Futures will delist and update the leverage and margin tiers of several USDT perpetual contracts. Based on its recent publication, the leading crypto exchange noted that the affected pairs include STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT.
Binance informed users on its platform that the delisting exercise will happen between May 13 and 14, 2024. According to its post, Binance Futures will close all positions and conduct an automatic settlement on STPTUSDT, SNTUSDT, and MBLUSDT on May 13. The following day, it would execute the same process for the RADUSDT and the CVXUSDT perpetual contracts.
The exchange further noted that it will implement the final delisting of the affected pairs after it has completed the settlements. However, Binance Futures noted it would adjust the leverage and margin tiers of affected contracts before the final delisting exercise. Hence, it advised users to adjust their positions and leverage ahead of the adjustment to avoid the risk of liquidation.
Following the announcement, STPTUSDT dropped by 7.24% over a few hours. The contract’s price moved from $0.5950 to $0.5516 in the early hours of Monday before attempting a recovery. STPTUSDT traded for $0.5716 at the time of writing, according to data from TradingView.
The announcement’s impact was reflected in the other affected contracts. Most of them experienced immediate price pullbacks. SNTUSDT dropped by 6.51% shortly after the announcement, and MBLUSDT lost 6.26% during the same period.
Other affected include RADUSDT, which only dropped by 1.80% before recovering to be trading in profit as of the time of writing, and CVXUSDT, which experienced a 4.70% pullback and was attempting a recovery at the time of writing.
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