Binance has announced the delisting of several BTC margin trading pairs, affecting both cross and isolated margin trading options. The move, which includes Band Protocol (BAND), Gitcoin (GTC), Highstreet (HIGH), Perpetual Protocol (PERP), STP, and AVA, has left users scrambling to close positions and transfer assets. Despite the delisting news, these coins have shown surprising price resilience, with some even posting notable gains.
Binance Announces Margin Pair Delisting
On December 3, Binance notified users of upcoming changes to its margin trading offerings. As per the announcement, BTC margin pairs like BAND/BTC and GTC/BTC will no longer be available for cross margin trading, while pairs such as AVA/BTC, HIGH/BTC, PERP/BTC, and STPT/BTC will be removed from isolated margin trading.
The delisting process will begin on December 4, 2024, with the suspension of isolated margin borrowing. The full removal, including position auto-liquidation and order cancellations, will take place on December 11, 2024, at 9:00 AM UTC.
Binance has urged users to close positions before the deadlines and transfer their assets to Spot Wallets to avoid potential losses. The underlying assets, however, will still be tradable through other available pairs on the platform. The move aligns with Binance’s efforts to streamline its offerings and better adapt to market demands.
Altcoin Prices Show Unexpected Strength Amid Delisting
Despite concerns that the delisting news might negatively impact prices, affected altcoins have demonstrated resilience, with several posting gains:
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- Band Protocol (BAND): BAND saw a 4% increase in the last 24 hours and a 22% rise over the past week, trading at $1.90.
- Gitcoin (GTC): GTC surged 40% last week to reach $1.20, doubling its value over the past month.
- Perpetual Protocol (PERP): PERP climbed 7% to $1.03, reflecting a 20% weekly gain.
- Highstreet (HIGH): HIGH rose 12% to $2.04, marking strong performance amidst the announcement.
- STPT: The token increased 40% over the past month, trading at $0.05.
- AVA: AVA displayed an 8% rise to $0.72, signaling short-term optimism despite the looming delist.
These positive moves reflect the broader bullish sentiment in the crypto market, which added nearly $1 trillion in November.
Market Momentum and Investor Implications
Binance’s delisting announcement coincides with strong market momentum, allowing affected altcoins to maintain positive trajectories. For instance, Gitcoin and Highstreet have attracted significant attention due to their robust performance, while BAND and PERP have sustained steady growth.
The Bit Journal will continue to monitor these developments, as delistings could create both challenges and opportunities for investors. While Binance aims to refine its trading options, the market’s resilience suggests that investor interest remains strong.
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