Binance Futures delists and updates Margin tiers for perpetual contract

Binance Futures has announced the closing of all the positions of USDⓈ-M 1000LUNCBUSD Perpetual Contract. It will simultaneously trigger the automatic settlement of the same as on June 08, 2023, effective 09:00 UTC. Once settled, the contract will be delisted instantly.

Moreover, Binance Futures is set to make adjustments to USDⓈ-M 1000LUNCBUSD Perpetual Contract on June 01, 2023, at 12:00 UTC. Open positions before the update will be affected, per the announcement. Hence, it is recommended to adjust the positions and leverage before the adjustment in any order.

Binance has advised users to close all the open positions to avoid automatic settlement. They will not be allowed to open new positions from June 08, 2023, 08:30 UTC. Binance exchange is likely to take additional security measures without any prior notice.

The development follows Binance’s announcement to remove the following trading pairs:

  • SOL/AUD.

Delisting of the said pair is already in effect starting from June 01, 2023, 06:00 UTC. Users cannot access trading functionalities for these spot trading pairs. Trading activity is available for assets but only in other pairs.

Meanwhile, Binance launched USDⓈ-M COMBO on June 02, 2023, at 12:00 UTC. The available leverage goes up to 20x.

It is easy to get started with Binance. Users must first verify their identity on Binance to secure their data and transactions. Then, add digital tokens by having them through different payment methods. Traders can start exploring the platform once they have successfully funded their accounts. Activities include buying-selling cryptocurrencies and setting up recurring purchases for a true value of an investment, to mention a few.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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