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Binance to Remove Futures Contracts for Three Cryptocurrencies

Binance to Remove Futures Contracts for Three Cryptocurrencies

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by Maya Lundqvist

2 months ago

In a significant move within the cryptocurrency trading landscape, Binance has announced the termination of futures contracts for three digital currencies: PONKE, SWELL, and QUICK, effective November 28. According to the official information, this decision has prompted investors to reassess their positions ahead of the automatic closure of these contracts.

Investor Advisory on Open Positions

Investors holding open positions in

  • PONKE
  • SWELL
  • QUICK
are urged to take necessary actions before the deadline to avoid automatic liquidation. Following the announcement, PONKE experienced a brief surge of 7% before facing a notable decline, while SWELL saw an impressive 8% increase and continues to gain momentum. QUICK, on the other hand, is displaying a modest upward trend.

Binance's Strategic Move

This strategic move by Binance underscores the exchange's commitment to refining its product offerings and enhancing the trading experience for its users. As the cryptocurrency market evolves, such adjustments are crucial for maintaining competitiveness and ensuring that investors have access to viable trading options.

In a related development, Binance has frozen several accounts due to alleged abuses of the Alpha airdrop system, highlighting ongoing concerns about platform integrity. For more details, see the full report here.

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