Binance to Delist XEM, ORBS, and LOOM Perpetual Contracts, Causing Price Dips

The post Binance to Delist XEM, ORBS, and LOOM Perpetual Contracts, Causing Price Dips appeared first on Coinpedia Fintech News

Binance has announced the delisting of USD-M perpetual contracts for NEM (XEM), Orbs (ORBS), and Loom Network (LOOM) starting December 9. Traders will no longer be able to open new positions in these contracts after 08:30 UTC, and open positions must be closed to avoid automatic settlements. Following this news, the prices of the affected tokens dropped by 5-7%. Binance is adjusting its offerings to mitigate market risks, with measures like changes to leverage limits and margin tiers. The exchange’s move aims to safeguard users from potential market volatility and maintain platform integrity.