Gate.io drops Monero ETF markets, plans to delist XMRUSDT perpetual contract on December 26 2024

Posted Fri, 20 Dec 2024, from Monero Observer

Price Analysis

Source Article Link: https://monero.observer/gate-io-to-delist-monero-perpetual-contract-26-december-2024/

Crypto CEX Gate.io1 has announced plans2 to delist the XMRUSDT3 perpetual contract from their platform on December 26 2024 at 8:00 UTC, after silently closing leveraged Monero ETF markets (XMR3L and XMR3S4) earlier today:

Gate.io will cease trading of the leveraged tokens XMR3L and XMR3S on December 20, 2024, at 10:00 UTC. [..] Gate.io will delist XMR,DASH,ZEC,ZEN,XVG perpetual contracts on December 26, 2024 at 08:00 UTC. If you are trading the above perpetual contracts, it is highly recommended that you adjust your trading strategy and close your position beforehand.

Timeline

Dec 25 2024 0800 UTC: reduce-only mode
Dec 26 2024 0800 UTC: open orders canceled, open positions auto-settled

The Monero perpetual contract is currently listed with a daily volume of around $26M on CoinMarketCap5.

It is unclear if the spot XMR pair6 - which is ranked #2 in CMC with a ~$35M daily volume - will also be delisted from the exchange after the deadline.

This is an ongoing story and the report will be updated when new information is available.

  1. https://www.gate.io/ ↩

  2. https://www.gate.io/announcements/article/41883, https://www.gate.io/announcements/article/41888 ↩

  3. https://www.gate.io/futures/introduction/contract-detail?from=USDT-M&contract=XMR_USDT&source=Perpetual, https://www.gate.io/futures/USDT/XMR_USDT ↩

  4. https://www.gate.io/trade/XMR3S_USDT, https://www.gate.io/trade/XMR3L_USDT ↩

  5. https://coinmarketcap.com/currencies/monero/#Markets ↩

  6. https://www.gate.io/trade/XMR_USDT ↩

License: CC BY 4.0, no changes were made to the article.