Binance announced the delisting of perpetual futures contracts for NEM (XEM), Orbs (ORBS), and Loom Network (LOOM) on December 9, 2024. This decision is part of Binance's routine evaluation to align its offerings with market demand and liquidity considerations.
Binance Contract Delisting
Starting at 11:30 AM (UTC) on December 9, 2024, users will be unable to open new positions in the XEM, ORBS, and LOOM perpetual contracts. All existing positions will be automatically settled at 12:00 PM (UTC) on the same day.
Market Reaction
Following Binance’s announcement about delisting certain perpetual contracts, the affected tokens witnessed significant price shifts. NEM (XEM) increased approximately 5%, trading around $0.029, while Orbs (ORBS) experienced a 0.62% decrease, priced at $0.034. Loom Network (LOOM) also saw a 1.27% decline, trading near $0.075.
User Recommendations
Binance emphasizes the importance of users managing their positions proactively to prevent automatic liquidation. Users can seek further assistance and information through Binance’s official support channels.
This decision by Binance highlights the market's sensitivity to changes in trading conditions on major platforms.
