The leading cryptocurrency exchange Binance has made a series of important announcements that will affect its users. The company is introducing a new line of Dual Investments products that provide updated target prices and contract dates. In addition, Binance is supporting the upcoming network upgrades of Terra Classic (LUNC) and Kava (KAVA). Finally, Binance Margin will delist several trading pairs. Let’s explore each announcement in more detail…
Binance introduces new “binary investment” products
Binance is launching a new suite of Binary Investment products that allow users to participate in “Sell High or Buy Low” strategies. These products provide up-to-date target prices and contract dates, giving users more opportunities to optimize their trading strategy. Subscription for these products will start at 13:00 on 17 May 2023. Interested users are advised to act quickly to secure their subscription, as subscriptions will be made on a first come, first served basis. Sell high options are as follows:
Buy low options are as follows:
Support for Terra Classic (LUNC) and Kava (KAVA) network upgrades
Binance also announced that it will support upcoming network upgrades for Terra Classic (LUNC) and Kava (KAVA). The Terra Classic network upgrade is scheduled to take place at block height 12,812,900, approximately at 17:03 on May 17, 2023. During this time, deposits and withdrawals for LUNC and USTC via the Terra Classic network will be temporarily suspended from 16:30. Similarly, the Kava network upgrade will occur at block height 4,832,500, or around May 17, 2023, at 6:00 pm. Deposits and withdrawals to KAVA will be suspended from approximately 17:30.
It is important to note that trading activities for LUNC, USTC and KAVA will not be affected during network upgrades. Binance will handle all technical matters on behalf of its users holding these assets in their Binance accounts. Once the upgraded networks are seen to be stable, Binance will reopen deposits and withdrawals for LUNC, USTC and KAVA. No further announcement will be made on this subject.
Some pairs are excluded from margin trading on Binance
Finally, Binance Margin announced that several trading pairs have been delisted. Effective May 24, 2023, 09:00, JASMY/BTC cross margin pair and AMP/BTC, JASMY/BTC and STMX/BTC isolated margin pairs will be delisted. To facilitate the delisting process, Binance Margin will take the following steps:
- From 09:00 on May 18, 2023, AMP/BTC, JASMY/BTC and STMX/BTC isolated margin borrowings will be suspended.
- Then, on May 24, 2023 at 09:00, Binance Margin will perform an automatic settlement, which will close users’ positions.
- AMP/BTC will cancel all pending orders associated with JASMY/BTC and STMX/BTC isolated margin pairs.
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