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