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Binance exchange has decided to delist leveraged coins that can be traded based on the rise or fall of cryptocurrencies. This move emerges as part of the platform’s recent rigorous delisting policy. Many “up-down” crypto pairs, including major crypto assets such as Bitcoin, Ethereum and BNB, will no longer be found on the Binance platform.
Binance has announced that it will completely remove these pairs, known as leveraged coins, that allow investors to trade according to the price movements of coins. A definitive decision has been made that these pairs will no longer be on the platform.
The crypto exchange announced that leveraged coins, known as “UP and DOWN”, which allow trading based on price movements, will no longer be offered on the platform. Also, it was stated that this service will not be offered as of April 3, 2024. In addition, it was reported that registrations will be halted as of February 28, 2024, and no refunds will be made. As of this date and time, the positions of the relevant coins will be automatically closed.
The coins in the closed positions will be converted directly into USDT by the exchange. It is emphasized that this step is a major change for Binance users and that investors should carefully monitor it.