Major cryptocurrency exchange Binance to be partially delisted $USDC Trading pairs were added from the margin platform in June.
According to the latest announcement, Binance Margin will delist four margin trading pairs on June 19th at 06:00 (UTC). This measure applies to Civic (CVC), Rocket Pool (RPL), XAI (XAI), Ravencoin ($RVN). Affected cross-margin pairs have CVC/$USDC,RPL/$USDC, $RVN/$USDC and XAI/$USDC.
The exact reason for the impending removal of these cryptocurrency pairs from the Binance Margin platform was not stated in the announcement, with Binance only providing an overview of the delisting process.
Binance Margin will close users’ positions in the affected cryptocurrency pairs on June 19th at 06:00 UTC, perform automatic settlements, and cancel all pending orders for cross and isolated margin pairs. These pairs will be removed from Binance Margin.
Binance urges users to close their positions or transfer assets from margin accounts to spot accounts before margin trading is suspended at 06:00 (UTC) on June 19 to avoid potential losses. This is because positions cannot be updated during the delisting process, which takes about three hours.
Binance becomes the primary trading platform for SpaceX futures trading
In a recent report, Binance highlighted that the market share of SpaceX Perpetual Futures (SPCXUSDT) has reached 60%, making it the second largest traded product in the world.
SpaceX Perpetual Futures (SPCXUSDT) has become the second largest trading product on Binance after Bitcoin Perpetual Futures (BTCUSDT).
SPCXUSDT recorded over $5.6 billion in trading volume (24-hour rolling volume snapshot as of June 13) and cumulative trading volume of over $9 billion during SpaceX’s pre-IPO and post-listing stages on Binance.
As of June 15, Binance continues to hold over 60% market share of SPCXUSDT across centralized and decentralized venues, outperforming other platforms in open interest.
