Crypto exchange Binance has announced plans to remove two margin trading pairs on June 25, 2023. This decision affects the UTK/USDC and ZIL/BTC pairs.
Details of the Delisting
According to a recent announcement from Binance, margin trading for the UTK/USDC and ZIL/BTC pairs will cease on June 25 at 6:00 a.m. (UTC). This will affect both cross-margin and isolated margin pairs. As of this moment, users will no longer be able to transfer any asset amounts of the trading pairs into their Isolated Margin accounts.
Advice for Users
On June 24 at 6:00 a.m. (UTC), isolated margin borrowing on the UTK/USDC and ZIL/BTC isolated margin pairs will be suspended. On June 25 at 6:00 a.m. (UTC), Binance will close user positions, settle them automatically, and cancel all pending orders for the UTK/USDC and ZIL/BTC margin pairs. Users are advised to close their positions or transfer assets from margin accounts to spot accounts before the end of margin trading.
New Opportunities on Binance
Coincidentally, Binance also announced a new listing on the same date as the delisting. The exchange will include a new trading pair NEIRO/JPY, set to open on June 25 at 8:00 a.m. (UTC). This new spot trading instrument will offer zero maker fees from June 25 to July 25.
Thus, Binance users should take note of changes in margin trading and follow the latest advice for managing their positions. Meanwhile, the introduction of new trading options provides additional opportunities for traders.
