Binance Delists GMT/BUSD, NEAR/USD, and AVAX/USD U-Standard Perpetual Contracts

04/14/2023 10:07 • Blockchain Buzz • 339 views

On April 14th, it was reported that the Binance contract will automatically clear the U-standard perpetual contracts of GMT/BUSD, NEAR/USD, and AVAX/USD at 17:00 on April 18th, and will be delisted from the GMT/BUSD, NEAR/USD, and AVAX/USD U-standard perpetual contract trading pairs after the clearing is completed.

Binance contract will be delisted from the U-standard perpetual contracts of GMT BUSD, NEAR BUSD, and AVAX BUSD

On April 14th, Binance announced that it will be delisting the GMT/BUSD, NEAR/USD, and AVAX/USD U-standard perpetual contract trading pairs. This comes after the contract’s automatic clearing on April 18th at 5:00 PM UTC.

What Are U-Standard Perpetual Contracts?

Before diving into the delisting, it’s important to understand what U-standard perpetual contracts are. These contracts are a type of perpetual swaps that allow traders to speculate on the price of an underlying asset without an expiry date. Additionally, U-standard contracts use a funding system to ensure that the price of the derivative stays close to the underlying asset.

The Delisting of GMT/BUSD, NEAR/USD, and AVAX/USD U-Standard Perpetual Contracts

As previously mentioned, Binance will be delisting the GMT/BUSD, NEAR/USD, and AVAX/USD U-standard perpetual contract trading pairs. This means that after the automatic clearing on April 18th, these pairs will no longer be available for trading on the Binance platform.
It’s important to note that the delisting of these trading pairs does not affect the underlying assets of GMT, NEAR, or AVAX. Traders can still buy and sell these assets on the platform, just not in the form of U-standard perpetual contracts.

Why Is Binance Delisting These Trading Pairs?

Binance has not given a specific reason for the delisting of these trading pairs. However, it’s important to note that exchanges often delist less popular trading pairs in order to streamline their offerings and focus on more popular assets.
Additionally, U-standard perpetual contracts can be complex financial instruments, and not all traders may be interested in trading them. By delisting these trading pairs, Binance may be reallocating resources to improve its offerings in other areas.

Conclusion

The delisting of the GMT/BUSD, NEAR/USD, and AVAX/USD U-standard perpetual contract trading pairs is not uncommon in the world of cryptocurrency exchanges. Traders should not be concerned about the delisting, as it does not impact the underlying assets of GMT, NEAR, or AVAX. Binance’s decision may be a strategic one, as they focus on more popular trading pairs and improve other areas of their exchange.

FAQs

1. Will I still be able to trade GMT, NEAR, or AVAX on Binance after the delisting of these trading pairs?
Yes, you will still be able to buy and sell these assets on the Binance platform.
2. Will the delisting of these trading pairs affect the value of GMT, NEAR, or AVAX?
It’s possible that the delisting may affect the value of these assets temporarily, but in the long term, the delisting of less popular trading pairs is not likely to have a significant impact on the value of the underlying assets.
3. Can I still trade U-standard perpetual contracts on Binance?
Yes, Binance still offers other U-standard perpetual contract trading pairs, and U-standard perpetual contracts are still available to trade on the platform.

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