Ethereum

Orbs

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Binance Futures will close all positions and conduct an automatic settlement on the 3 Perpetual Contracts, before delisting them.</li> 
 <li>XEM, ORBS, and LOOM’s prices dropped following the Binance announcement.</li> 
</ul> 
<p>Binance announced the upcoming delisting of three Perpetual Contracts next month.</p> 
<p>In the official notes, Binance Futures revealed that the exchange will close all positions and conduct an automatic settlement on the XEMUSDT, ORBSUSDT, and LOOMUSDT Perpetual Contracts on December 9, at 09:00 (UTC).</p> 
<p>The three contracts will be delisted following the completion of the settlement.</p> 
<h2 id="binance-s-notes-to-users">Binance’s Notes to Users</h2> 
<p>The exchange advised users to close any open positions before the delisting time to avoid automatic settlement.</p> 
<p>Also, users are not allowed to open new positions for the three contracts starting December 9, at 08:30 (UTC).</p> 
<p>Binance revealed that, to protect users from potential risks amidst high market volatility, there might be more protective measures taken regarding the three contracts without prior announcements.</p> 
<p>Following the exchange’s<a href="https://www.binance.com/en/support/announcement/binance-futures-will-delist-usd%E2%93%A2-m-xemusdt-orbsusdt-and-loomusdt-perpetual-contracts-2024-12-09-cfe97d52a8c840d3ba631835b637e9e7?hl=en" rel="nofollow noopener" target="_blank"> notes</a> regarding the upcoming December delisting, the coins experienced volatility.</p> 
<h2 id="xem-orbs-and-loom-prices-dropped">XEM, ORBS, and LOOM Prices Dropped</h2> 
<p>After Binance’s announcement, <a href="https://crypto.ro/en/cryptocurrencies/nem/">XEM</a> recorded a 5.6% price drop. The coin’s market cap fell from almost $249 million to almost $228 million. After that, XEM’s price rebounded and surged by over 2%. Now, the coin has a market cap of over $235 million.</p> 
<figure id="attachment_54124" aria-describedby="caption-attachment-54124" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/11/XEM_1D_graph_coinmarketcap.jpeg"><img loading="lazy" decoding="async" class="wp-image-54124 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/11/XEM_1D_graph_coinmarketcap.jpeg" alt="XEM price in USD today" width="1200" height="800" title="Binance Will Close Futures Trading for XEM, ORBS, and LOOM on December 9 34" srcset="https://crypto.ro/en/wp-content/uploads/2024/11/XEM_1D_graph_coinmarketcap.jpeg 1200w, https://crypto.ro/en/wp-content/uploads/2024/11/XEM_1D_graph_coinmarketcap-300x200.jpeg 300w, https://crypto.ro/en/wp-content/uploads/2024/11/XEM_1D_graph_coinmarketcap-1024x683.jpeg 1024w, https://crypto.ro/en/wp-content/uploads/2024/11/XEM_1D_graph_coinmarketcap-768x512.jpeg 768w, https://crypto.ro/en/wp-content/uploads/2024/11/XEM_1D_graph_coinmarketcap-750x500.jpeg 750w, https://crypto.ro/en/wp-content/uploads/2024/11/XEM_1D_graph_coinmarketcap-1140x760.jpeg 1140w" sizes="(max-width: 1200px) 100vw, 1200px"></a>
 <figcaption id="caption-attachment-54124" class="wp-caption-text">
  XEM price in USD today
 </figcaption>
</figure> 
<p>NEM (XEM) is a blockchain launched in March 2015, seeking to improve the imperfections found on other chains at the time. In December 2021, NEM was hardforked by a pseudonymous team of crypto experts.</p> 
<p>Following Binance’s announcement, <a href="https://crypto.ro/en/cryptocurrencies/loom-network/">LOOM</a> also saw a drop in price. The coin’s market cap dropped from $94 million to $89.7 million. Now, LOOM has a market cap of over $90 million, following the earlier drop of around 3%.</p> 
<figure id="attachment_54126" aria-describedby="caption-attachment-54126" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/11/loom.png"><img loading="lazy" decoding="async" class="wp-image-54126 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/11/loom.png" alt="LOOM price in USD today" width="986" height="568" title="Binance Will Close Futures Trading for XEM, ORBS, and LOOM on December 9 35" srcset="https://crypto.ro/en/wp-content/uploads/2024/11/loom.png 986w, https://crypto.ro/en/wp-content/uploads/2024/11/loom-300x173.png 300w, https://crypto.ro/en/wp-content/uploads/2024/11/loom-768x442.png 768w, https://crypto.ro/en/wp-content/uploads/2024/11/loom-750x432.png 750w" sizes="(max-width: 986px) 100vw, 986px"></a>
 <figcaption id="caption-attachment-54126" class="wp-caption-text">
  LOOM price in USD today
 </figcaption>
</figure> 
<p>LOOM Network is a platform built on Ethereum that allows developers to run large-scale dApps. The platform was released on October 1, 2017.</p> 
<p>ORBS also saw a price drop following the exchange’s announcement. The coin’s market cap fell from over $110 million to $100 million, recording a 6% drop.</p> 
<figure id="attachment_54132" aria-describedby="caption-attachment-54132" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/11/ORBS_1D_graph_coinmarketcap.jpeg"><img loading="lazy" decoding="async" class="wp-image-54132 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/11/ORBS_1D_graph_coinmarketcap.jpeg" alt="ORBS price in USD today" width="1200" height="800" title="Binance Will Close Futures Trading for XEM, ORBS, and LOOM on December 9 36" srcset="https://crypto.ro/en/wp-content/uploads/2024/11/ORBS_1D_graph_coinmarketcap.jpeg 1200w, https://crypto.ro/en/wp-content/uploads/2024/11/ORBS_1D_graph_coinmarketcap-300x200.jpeg 300w, https://crypto.ro/en/wp-content/uploads/2024/11/ORBS_1D_graph_coinmarketcap-1024x683.jpeg 1024w, https://crypto.ro/en/wp-content/uploads/2024/11/ORBS_1D_graph_coinmarketcap-768x512.jpeg 768w, https://crypto.ro/en/wp-content/uploads/2024/11/ORBS_1D_graph_coinmarketcap-750x500.jpeg 750w, https://crypto.ro/en/wp-content/uploads/2024/11/ORBS_1D_graph_coinmarketcap-1140x760.jpeg 1140w" sizes="(max-width: 1200px) 100vw, 1200px"></a>
 <figcaption id="caption-attachment-54132" class="wp-caption-text">
  ORBS price in USD today
 </figcaption>
</figure> 
<p>Now, <a href="https://crypto.ro/en/cryptocurrencies/orbs/">ORBS</a> has a market cap of around $104 million, slightly recovering following the earlier decline.</p> 
<p>Orbs (ORBS) is a public blockchain infrastructure that mixes scalability and low fees and uses mass-use applications.</p>

Binance Will Close Futures Trading for XEM, ORBS, and LOOM on December 9

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