Binance has followed through on its plans to discontinue trading for XRP leveraged tokens, specifically XRPUP and XRPDOWN, as of May 12th. The exchange had previously announced the delisting and urged customers to trade their tokens for other assets. Any customers still holding these tokens can redeem them for USDT through the dedicated Leveraged Tokens page or wallet function. This move is part of a larger trend of Binance delisting leveraged tokens, with twenty being delisted in February and six in May. Leveraged tokens are designed to amplify gains or losses in a trade, with XRPUP multiplying returns when XRP goes up and XRPDOWN multiplying returns when XRP goes down.
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Binance Discontinues Trading for XRP Leveraged Tokens Today
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Cointime August 4 News Express
1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX -
Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX
According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches. -
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