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You can also read this news on BH NEWS: Binance Discontinues Contracts for Three Tokens
Binance, a leading cryptocurrency exchange, has announced it will cease trading continuous contracts for MAVIAUSDT, OMGUSDT, and BONDUSDT starting December 16. This decision has sparked notable declines in the prices of these tokens, prompting the platform to issue cautionary advice regarding trading activities.
What Contracts are Being Removed?
In an official statement released on December 6, Binance confirmed that the continuous contracts for the MAVIA, OMG, and BOND tokens will be delisted from its platform at 09:00 UTC on December 16. The exchange advised users against opening new positions ahead of this process.
How Are the Tokens Performing?
After the announcement, the reactions in the market were swift, with MAVIA’s price plummeting by 10% to $1.94. OMG saw a 5% drop to $0.5781, while BOND also declined by 10%, trading at $1.58. These immediate losses highlight the market’s sensitivity to Binance’s latest changes.
- Binance is removing contracts for MAVIA, OMG, and BOND effective December 16.
- Position openings for these tokens will be halted prior to delisting.
- Recent trends have shown similar price drops following other delisting announcements.
- Users are encouraged to reassess their portfolios to mitigate risks.
As the market continues to react to these developments, user vigilance and strategic portfolio adjustments are essential for navigating the current cryptocurrency landscape.