Binance to Delist XEM, ORBS, and LOOM Perpetual Contracts on December 9
Binance Futures will delist USD-M perpetual contracts for NEM (XEM), Orbs (ORBS), and Loom Network (LOOM) on December 9, 2024.
From 08:30 UTC, new positions can no longer be opened and all open positions will be auto settled at 09:00 UTC. Please manage your positions in advance to avoid any unexpected disruptions or forced settlements.
This delisting is part of Binance’s regular review to maintain the best performance and minimize risks for our users. Leverage limits, margin tiers and funding rates will be adjusted to handle potential market volatility during the transition.
Price Declines and Market Reaction
The announcement has caused significant price drops for the delisted tokens. NEM (XEM) is down 7% at $0.026, with a daily low of $0.02527. Orbs (ORBS) is 6% down at $0.03301 and Loom Network (LOOM) is 4% down at $0.07367. As we’ve seen with tokens like IDRT, KP3R and OOKI in the past, the market is sensitive to delisting news.
For active traders, delisting events can cause liquidity issues and volatility, so risk management is key. Binance reminds to stay updated and adjust your trading accordingly.
Proactive Measures for Market Stability
Binance will take measures to ensure market stability during the delisting. This includes updating price index components, adjusting funding rates and margin changes. This is part of Binance’s commitment to the platform and users even in a dynamic market.
This delisting is a reminder that asset reviews are important in a fast changing crypto world. Please stay updated and responsive to our platform updates.
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