Binance Futures has announced the delisting of USDⓈ-M perpetual 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.
As per the announcement, 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. Users are advised to close their positions before this time to avoid automatic settlement.
Binance’s Funding Rate Arbitrage Bot will terminate any active arbitrage strategies related to these contracts at 12:00 PM (UTC). No new strategies involving these pairs can be initiated post-delisting.
Following Binance’s announcement about delisting certain perpetual contracts, the affected tokens saw notable price declines.
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.
These market reactions highlight the sensitivity to changes in trading availability on major platforms like Binance.
Binance emphasizes the importance of users managing their positions proactively to prevent involuntary liquidation. For further assistance or information, users should consult Binance’s official support channels.
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