Binance , the futures trading arm of the crypto exchange Binance, has announced significant operational changes that will impact various perpetual contracts. The exchange plans to delist and adjust the leverage and margin tiers for STP (STPTUSDT), Status (SNTUSDT), MovieBlock (MBLUSDT), Radworks (RADUSDT), and (CVXUSDT) perpetual contracts.
These updates will take effect next week. It marks a critical shift for traders and investors using these instruments.
Delisted Assets’ Price Tumble
Starting on May 6, 2024, at 10.30 UTC, BINANCE Futures will update the leverage and margin requirements for the mentioned contracts. This adjustment is a proactive measure to align with market conditions and enhance trading safety. Traders in these contracts are advised to reassess their strategies, particularly their leverage settings, to prevent potential liquidations
Following the adjustments, Binance Futures’ system will bar new position openings in these contracts. Automatic settlements of all positions will commence one hour and a half later on their respective dates.
reaction in the markets to these changes was immediate. According to data from TradingView, there was a noticeable decline in the prices of the affected tokens.
STPT decreased by 4.55%, SNT fell by 4.79%, and MBL by 4.31%. and RAD also dropped by 2.35% and 1.12%, respectively.
