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