Holding MITO or PTB perpetuals? Check three timings and conditions before settlement
If you still have MITOUSDT or PTBUSDT perpetual positions in your account, the most immediate impact of this notice is that some opening privileges have already changed, while automatic settlement will not take place until the day after tomorrow. If you remember only the “delisting date,” you may miss the account conditions in between.
Binance’s October 21 announcement specifies these two USDⓈ-M perpetual contracts: starting at 17:30 Beijing time on October 21, new orders that are not reduce-only will be prohibited, though some market makers may be exempt. At 17:00 on October 23, all related positions will be closed and automatically settled, after which the contracts will be delisted. Regular accounts should not assume they can use the market-maker exemption.
You can save these three checks:
① Check the product. Confirm whether the asset in your account is one of the perpetuals listed above or MITO spot. This notice applies to the specified contracts; the public market interface still shows MITO/USDT spot as tradable in this round. This does not imply that the project is shutting down, that spot trading is being delisted, or that there is any particular reason related to a violation.
② Check your orders. Confirm whether new orders are reduce-only and what parameters the system currently accepts. Existing positions, old open orders, and new position openings are not the same thing; seeing a price does not mean that new orders that increase a position will still be accepted. Follow the platform’s prompts for the specific response on your account. No orders were placed or tested on your behalf for this report.
③ Check the final hour. From 16:00 to 17:00 Beijing time on October 23, the announcement sets out separate arrangements for forced liquidation of the related contracts: the Futures Insurance Fund will not be used to support this liquidation process. An immediate-or-cancel order will be used first; if the remaining margin is still insufficient after that, the balance will enter ADL. Automatic settlement later does not mean you can ignore the liquidation process before settlement, nor does it guarantee that you can exit at your preferred price.
In the market, the latest complete hour before 20:00 saw MITO spot rebound about 7.40%, but it was still down about 24.05% over the latest four hours. Trading volume during that hour was about 790,000 USDT, just 0.74 times the average of the previous five hours. Rolling 24-hour volume was about 6.62 million USDT, below the activity threshold commonly used in this column; liquidity constraints should not be ignored.
These figures do not prove that the decline was caused entirely by the announcement, and a brief rebound should not be taken as a sign that the risk has passed. For holders, the more useful updates to watch are whether the announcement is revised and whether order restrictions or liquidation parameters change again. Do not use the fact that another coin once rose before delisting as a substitute for checking the actual conditions of these contracts. $MITO
If you still have MITOUSDT or PTBUSDT perpetual positions in your account, the most immediate impact of this notice is that some opening privileges have already changed, while automatic settlement will not take place until the day after tomorrow. If you remember only the “delisting date,” you may miss the account conditions in between.
Binance’s October 21 announcement specifies these two USDⓈ-M perpetual contracts: starting at 17:30 Beijing time on October 21, new orders that are not reduce-only will be prohibited, though some market makers may be exempt. At 17:00 on October 23, all related positions will be closed and automatically settled, after which the contracts will be delisted. Regular accounts should not assume they can use the market-maker exemption.
You can save these three checks:
① Check the product. Confirm whether the asset in your account is one of the perpetuals listed above or MITO spot. This notice applies to the specified contracts; the public market interface still shows MITO/USDT spot as tradable in this round. This does not imply that the project is shutting down, that spot trading is being delisted, or that there is any particular reason related to a violation.
② Check your orders. Confirm whether new orders are reduce-only and what parameters the system currently accepts. Existing positions, old open orders, and new position openings are not the same thing; seeing a price does not mean that new orders that increase a position will still be accepted. Follow the platform’s prompts for the specific response on your account. No orders were placed or tested on your behalf for this report.
③ Check the final hour. From 16:00 to 17:00 Beijing time on October 23, the announcement sets out separate arrangements for forced liquidation of the related contracts: the Futures Insurance Fund will not be used to support this liquidation process. An immediate-or-cancel order will be used first; if the remaining margin is still insufficient after that, the balance will enter ADL. Automatic settlement later does not mean you can ignore the liquidation process before settlement, nor does it guarantee that you can exit at your preferred price.
In the market, the latest complete hour before 20:00 saw MITO spot rebound about 7.40%, but it was still down about 24.05% over the latest four hours. Trading volume during that hour was about 790,000 USDT, just 0.74 times the average of the previous five hours. Rolling 24-hour volume was about 6.62 million USDT, below the activity threshold commonly used in this column; liquidity constraints should not be ignored.
These figures do not prove that the decline was caused entirely by the announcement, and a brief rebound should not be taken as a sign that the risk has passed. For holders, the more useful updates to watch are whether the announcement is revised and whether order restrictions or liquidation parameters change again. Do not use the fact that another coin once rose before delisting as a substitute for checking the actual conditions of these contracts. $MITO