Binance Futures announced it will remove the USDT-margined perpetual contracts for PTB and MITO. The exchange will close all open positions at 09:00 UTC on Friday, October 23. It will then complete automatic settlement and delist the PTBUSDT and MITOUSDT contracts.
Price charts dated October 21 showed sharp selling in both assets. The PTB perpetual contract fell to 0.0004699 USDT, while MITO dropped to 0.00922 USDT.
The decision covers these two futures products. Binance’s announcement does not mean it will remove the tokens from all platform services or end spot trading.
PTB and MITO Prices Drop Sharply
The Binance chart showed PTBUSDT trading at 0.0004699 USDT at around 10:53 UTC. The latest candle on the hourly chart recorded a 13.40% decline.
That candle opened at 0.0005414 USDT and fell as low as 0.0004675 USDT. The price therefore remained just above its hourly low.
Earlier in the chart, PTB had traded around 0.00070 USDT. Following the last two sharp red candles, the decline from that area reached approximately 33%.
However, this figure represents the approximate change from the earlier price region on the chart. The 13.40% shown at the top of the screen reflects only the latest hourly candle.
A noticeable increase in trading volume accompanied the selling candles on PTB’s chart. Volume bars, relatively small in earlier hours, expanded as the price fell rapidly.
Meanwhile, MITO’s October 21 candle showed a 31.29% decline. The price dropped from an opening level of 0.01343 USDT to 0.00922 USDT.
The same candle recorded a high of 0.01349 USDT and a low of 0.00906 USDT. At the time of the screenshot, MITO had recovered slightly from its low but remained below 0.01 USDT.
The earlier section of MITO’s chart also showed a downward trend. The latest sell-off pushed the price well below its recent trading range of 0.013–0.015 USDT.
Both screenshots reflect prices at a specific moment. The charts also use different time frames, so their percentage changes do not directly compare performance over the same period.
Restrictions Take Effect on Orders That Increase Positions
Binance restricted new orders that do not reduce positions in both contracts at 09:30 UTC on October 21. However, the exchange said it may exempt certain market makers to support liquidity.
The exchange also advised users to close open positions before automatic settlement. During the final hour before settlement, the Futures Insurance Fund will not support liquidation procedures for these contracts.
Binance also reserves the right to introduce additional measures during extreme volatility. These may include changes to leverage, margin tiers, and funding parameters.
Which Criteria Does Binance Assess?
Binance regularly reviews futures contracts based on trading volume, liquidity, and network security. Its assessment also considers project development activity, tokenomics, and regulatory requirements.
However, the announcement does not specify which criteria drove the decisions for PTB and MITO. The general review criteria therefore do not establish any specific violation by either project.
