Binance to Delist All XRP Leveraged Tokens, Here's Why
Users are urged to redeem their tokens using the wallet feature before the indicated date because both leveraged tokens that give users exposure to long or short positions in $ XRP will be delisted from the site. advertisement Why Is This Bad News For XRP? According to the release, if users continue to hold leveraged tokens after they are delisted, Binance will convert them into Tether’s USDT stablecoin based on their net asset value at that time. It’s important to note that leveraged tokens give traders the chance to increase their exposure to particular cryptocurrencies like XRP . These leveraged tokens fluctuate in value along with the changes in the price of their underlying cryptocurrency thanks to a complex algorithm that adjusts the leverage of the token in real-time. This is not the first time this year that Binance has taken decisions to delist tokens. Just a month back, 21 spot trade pairs were taken off the market on May 26, accordi...