Binance to Clear and Delist U-Standard Perpetual Contracts of GMT/BUSD, NEAR/USD, and AVAX/USD

On April 14th, it was reported that the Binance contract will automatically clear the U-standard perpetual contracts of GMT/BUSD, NEAR/USD, and AVAX/USD at 17:00 on April 18th, and will be delisted from the GMT/BUSD, NEAR/USD, and AVAX/USD U-standard perpetual contract trading pairs after the clearing is completed.

Binance contract will be delisted from the U-standard perpetual contracts of GMT BUSD, NEAR BUSD, and AVAX BUSD

Introduction

On April 14th, Binance, one of the world’s leading cryptocurrency exchange platforms, made an announcement regarding the clearing and delisting of U-standard perpetual contracts of GMT/BUSD, NEAR/USD, and AVAX/USD. In this article, we will dive deeper into what these contracts are and what the clearing and delisting mean for traders using Binance.

U-Standard Perpetual Contracts

U-standard perpetual contracts are a type of futures trading contract that allow traders to speculate on the future price of a cryptocurrency without buying or selling the actual asset. These contracts have no expiration date and can be held indefinitely until the trader decides to close their position.
GMT/BUSD, NEAR/USD, and AVAX/USD are three different cryptocurrency pairs that can be traded using the U-standard perpetual contracts on Binance’s platform.

Clearing and Delisting

Clearing refers to the process of settling a trade by offsetting the buy and sell positions of the contract. Binance’s automatic clearing of the U-standard perpetual contracts of GMT/BUSD, NEAR/USD, and AVAX/USD is scheduled to occur at 17:00 on April 18th. This means that any outstanding positions held by traders will be settled at this time.
Delisting, on the other hand, refers to the removal of a cryptocurrency pair from the exchange platform. After the clearing is completed, Binance will delist the GMT/BUSD, NEAR/USD, and AVAX/USD U-standard perpetual contract trading pairs. This means that traders will no longer be able to open new positions using these contracts.

Implications for Traders

Traders who currently hold positions in any of these U-standard perpetual contracts should closely monitor their positions and consider closing them before the automatic clearing on April 18th. After the clearing is completed, these contracts will no longer be available for trading on Binance.
However, traders should note that they will still be able to trade the actual cryptocurrencies of GMT/BUSD, NEAR/USD, and AVAX/USD using other trading pairs on Binance’s platform.

Conclusion

Binance’s clearing and delisting of U-standard perpetual contracts of GMT/BUSD, NEAR/USD, and AVAX/USD marks a change in the platform’s product offerings. Traders should take note of the automatic clearing scheduled for April 18th, and close any outstanding positions in these contracts before this date. While these specific U-standard perpetual contracts will no longer be available for trading, traders can still access the actual cryptocurrencies using other trading pairs on Binance’s platform.

FAQs

1. What are U-standard perpetual contracts?

U-standard perpetual contracts are a type of futures trading contract that allow traders to speculate on the future price of a cryptocurrency without buying or selling the actual asset. These contracts have no expiration date and can be held indefinitely until the trader decides to close their position.

2. Will I still be able to trade other U-standard perpetual contracts on Binance?

Yes, traders will still be able to trade other U-standard perpetual contracts on Binance’s platform. However, they should note that specific contract pairs may be subject to future clearing and delisting.

3. What impact will the clearing and delisting have on the price of GMT/BUSD, NEAR/USD, and AVAX/USD?

It is difficult to predict the exact impact on the price of these cryptocurrencies. However, traders should closely monitor price movements leading up to and following the clearing and delisting of the U-standard perpetual contracts.