Binance Margin is removing NEBL as a borrowable asset from Cross Margin and delisting DCR, NEBL and XVG from Isolated Margin. Read more about it here.
Binance, one of the largest cryptocurrency exchanges in the world, has announced that it will delist NEBL as a borrowable asset from Cross Margin, as well as DCR, NEBL, and XVG from Isolated Margin on April 10, 2023, at 06:00 (UTC). This decision has been made after careful consideration and evaluation of the trading activity and liquidity of these assets on the exchange.
The affected pairs are NEBL/BUSD for Cross Margin, and DCR/BTC, DCR/USDT, NEBL/BUSD, and XVG/BUSD for Isolated Margin. Binance will also suspend NEBL/BUSD cross margin borrowing, as well as DCR/BTC, DCR/USDT, NEBL/BUSD, and XVG/BUSD isolated margin borrowing on March 28, 2023, at 06:00 (UTC).
On April 10, 2023, at 06:00 (UTC), Binance will close users’ positions, conduct an automatic settlement, and cancel all pending orders on the NEBL/BUSD cross margin pair, as well as the DCR/BTC, DCR/USDT, NEBL/BUSD, and XVG/BUSD isolated margin pairs. If users have any outstanding Cross Margin or Isolated Margin loans, any of the delisted assets held in their Cross and Isolated Margin accounts may be sold. Binance will then delist these pairs from Cross Margin and Isolated Margin.
During the delisting process, users will not be able to update their positions. Therefore, Binance advises its users to close their positions and/or transfer their assets from Margin Wallets to Spot Wallets before the cessation of margin trading on April 10, 2023, at 06:00 (UTC). Binance will not be responsible for any potential losses incurred due to users’ failure to take action in time.
Portfolio Margin users are advised to transfer the affected tokens out of their Margin Wallet to their Spot Wallet and to top up their margin balance, if required, before April 10, 2023, at 06:00 (UTC). Users should closely monitor the Unified Maintenance Margin Ratio (Uni-MMR) to avoid any potential liquidation that may result from the removal of the affected tokens from the Margin Wallet.
Binance’s decision to delist these assets from its margin trading platform is in line with its policy of periodically reviewing and evaluating the trading activity and liquidity of the assets listed on its platform. This move is expected to improve the overall trading experience on the exchange by ensuring that only the most actively traded and liquid assets are available for margin trading.