Binance To Delist Litecoin (LTC) And Dogecoin (DOGE) Perpetuals, But There’s A Catch

Varinder Singh
August 17, 2023
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The world’s largest crypto exchange Binance on Thursday announces a plan to delist Litecoin (LTC) And Dogecoin (DOGE) perpetual contacts next week. The exchange will adjust the leverage and margin tiers of LTCBUSD and DOGEBUSD perpetual contracts today and delist them after an automatic settlement as per the announcement.

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Binance Delisting Litecoin (LTC) And Dogecoin (DOGE) BUSD Pairs

Crypto exchange Binance in an official announcement on August 17 revealed the plan to delist USDⓈ-M LTCBUSD and DOGEBUSD perpetual contracts. Users are requested to make necessary changes as Binance will close all positions and conduct an automatic settlement on August 24 at 09:00 UTC.

In addition, Binance will adjust the leverage and margin tiers of LTCBUSD and DOGEBUSD perpetual contracts at 12.30 UTC today. The move has come in response to the crypto exchange’s strategy to slowly decrease BUSD pairs on the platform.

Binance is mainly reducing leverage for both Litecoin (LTC) And Dogecoin (DOGE) perpetual contacts. Users are not allowed to open new positions for LTCBUSD and DOGEBUSD from 08:30 UTC on August 24.

Last week, Binance announced the delisting of Cardano (ADA) and Polygon (MATIC) perpetual contacts. The exchange is slowly delisting all perpetual contacts in BUSD pairs.

Read More: BinanceUS’ Protective Order Against US SEC Referred To Magistrate Judge, What’s Next? 

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LTC and DOGE Prices Nosedive

Altcoins remain under pressure amid selloffs across the broader crypto market. Litecoin and Dogecoin prices have also dropped 10% each in a week.

LTC price fell 5% in the last 24 hours, with the price currently trading at $75. The 24-hour low and high are $73.63 and $78.73, respectively. However, the trading volume has increased by 55% in the last 24 hours.

DOGE price also dropped 5% in the past 24 hours, with the price currently trading at $0.067. The 24-hour low and high are $0.0664 and $0.0701, respectively.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.