In a recent announcement, Binance Futures has announced that it will discontinue support for two prominent cryptocurrencies, Cardano (ADA) and Polkadot (DOT), as margin assets in Multi-Assets Mode. The change is set to take effect from July 27, impacting thousands of traders and investors who have utilized these assets in their portfolios.
As of today, the transfer-in limit for ADA and DOT has been updated to zero in the Multi-Assets Mode, signaling the end of their tenure on the platform. Binance Futures has reassured its users that they will automatically convert all ADA and DOT assets in their accounts to USDT (Tether) within a four-hour window on July 27. The conversion will be based on the average ADAUSDT and DOTUSDT Price Index from a predefined period.
Importantly, the converted USDT assets will remain safely stored in users’ accounts, offering reassurance to those concerned about potential losses. However, users who wish to maintain control over their ADA and DOT holdings are advised to transfer their assets out of their accounts before the scheduled conversion process begins.
However, Binance Futures advises users who do not wish to participate in the Cardano or Polkadot conversion process to transfer their assets out of their accounts before the conversion begins. This gives users the freedom to manage their assets according to their preferences and investment strategies.
Despite this delisting from this particular section, both tokens maintain their presence on Binance’s other trading sections, so their communities continue to have opportunities to engage and trade.
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master’s program in banking and asset management.
He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
Once a day we send:
Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only. The opinions expressed by our writers are their own and do not represent the views of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. We do not recommend investing money you cannot afford to lose.