Binance to Remove MAVIA, OMG, and BOND Perpetual Contracts by December 2024

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Binance Futures to Delist MAVIA, OMG, and BOND Perpetual Contracts: What Investors Need to Know

By James Ding
Published on December 6, 2024, at 08:34 UTC

In a significant move for the trading community, Binance, one of the leading global cryptocurrency exchanges, has announced the upcoming delisting of several USDⓈ-M perpetual contracts. Specifically, the contracts for MAVIAUSDT, OMGUSDT, and BONDUSDT will be closed by December 16, 2024, at 09:00 (UTC). Here’s what you need to understand about this delisting and how it could affect your trading strategies.

Binance Delisting Announcement

Understanding the Delisting Process

As part of the delisting procedure, Binance Futures will automatically close all existing positions for the aforementioned contracts, executing automatic settlements. Traders are encouraged to close any open positions before the delisting deadline to avoid an automatic liquidation of their trades. Starting at 08:30 (UTC) on the same day, no new positions will be permitted for these contracts, which is crucial information for active traders.

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Key Timeline:

  • 08:30 UTC (Dec 16, 2024): No new positions can be opened for MAVIAUSDT, OMGUSDT, or BONDUSDT.
  • 09:00 UTC (Dec 16, 2024): Automatic closure and settlement of all open positions occur.

Protective Measures and User Strategies

In a market as volatile as cryptocurrency, changes can happen rapidly. Binance has indicated that they may implement additional protective measures during periods of extreme market fluctuations. These measures could include adjustments to leverage, position values, maintenance margins, and funding rates.

Trading Tips:

  • Stay Updated: Keep a close eye on communications from Binance, especially regarding changes in leverage and funding rates.
  • Risk Management: Adopt sound risk management strategies to protect your capital from sudden market changes.
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Impact on Arbitrage Trading

For those leveraging trading bots, particularly the Binance Funding Rate Arbitrage Bot, now is the time to reconsider your strategies. Following the delisting, all arbitrage strategies involving MAVIAUSDT, OMGUSDT, and BONDUSDT will be terminated, and new strategies involving these pairs will no longer be viable.

Recommendations for Arbitrage Traders:

  • Assess Your Portfolio: If you’ve been employing arbitrage strategies centered around these contracts, take immediate steps to adjust your approach.
  • Explore Alternatives: Investigate other cryptocurrency pairs that may provide similar opportunities in volatility and liquidity.

Conclusion: Stay Informed and Prepared

As we approach the end-of-year trading season, it’s essential for investors to remain vigilant and well-informed of the latest changes within the crypto landscape. As Binance advises, always refer to the original English version of any announcements to ensure you have the most accurate and up-to-date information.

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For more expert insights and unique trading strategies tailored to the dynamic cryptocurrency market, stay tuned to Extreme Investor Network. Our goal is to help you navigate the complexities of crypto investing with confidence.

For Further Details

To read the full announcement directly from Binance, click here.

This piece is informational and does not constitute financial advice. Always perform your own research before making investment decisions.