Today, Binance has delisted the XRPUP and XRPDOWN leveraged tokens. The exchange previously made an announcement noting that would discontinue trading for these tokens against USDT on May 12. Consequently, their trading was halted at 03:00 (UTC) today, and all active trade orders were automatically closed by the system. The tokens are not available on the Binance platform anymore. However, those users who still hold the tokens, the exchange has kept its redemption service open, allowing redemption of the tokens for USDT.

Leveraged Tokens, like XRPUP and XRPDOWN, are designed to amplify the gains (or losses) of a trade. For example, a 2x leveraged token would generate double the return of the underlying asset. In this case, the XRPUP multiplies the returns when XRP rises and XRPDOWN when the digital currency falls.

The delisting of XRPUP and XRPDOWN follows the previous plan of delisting twenty leveraged tokens in February and six more in May. The move will allow Binance to adjust its list of tokens on the platform and provide customers with a safer and more efficient trading service.



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