• Binance Futures will halt Neiro’s perpetual contract on September 26.

• Users should close all positions or face automatic settlement.

• NEIRO price lost over 20% amid the development.

Amid broader market slumps, Binance deteriorated sentiments among the NEIRO community with plans to delist the alt’s perpetual contract later this week.

Users should close their open positions before this deadline to avoid automatic settlement.

From 09:00 UTC on the same day, the NEIROETHUSDT perpetual contract will no longer be available on Binance Futures.

Furthermore, the platform will not support new trades from $08:30 UTC on September 26.

That means a narrow timeframe to adjust before Binance removes NEIRO entirely.

The meme token plunged after the announcement, now down over 20% on its daily chart.

NEIRO braces for heightened volatility

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The official announcement included multiple warnings to traders.

Notably, Binance will not support liquidations using the Futures Insurance Fund 60 minutes before contract settlement.

It will use Immediate or Cancel Order (IOCO) to handle any liquidation in that timeframe, with positions that fail to satisfy margin requirements processed via Auto-Deleveraging (ADL).

Binance has warned users to monitor and manage their NEIRO positions as that period could witness amplified volatility and liquidity crunches.

Users are strongly advised to actively monitor and manage open positions during the final hours, as this period may be subject to heightened volatility and reduced liquidity.

Moreover, the exchange revealed it might adopt various protective procedures without notice.

That includes adjusting funding rates, leverage, price index constituents, and margin tiers to safeguard against extreme conditions.

What does it mean for the project?

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While delisting perpetual contracts doesn’t remove the coins from spot markets, it limits derivatives trading activity.

That translates to reduced user activity, which can translate to lower liquidity.

With Binance’s move, NEIRO traders who rely on perpetuals for speculation or hedging will have to find exposure on different platforms or trading pairs.

The exchange didn’t clarify the reasons behind removing NEIRO’s perpetual contract.

However, the move is likely to ensure market stability and manage risk.

That happens whenever the contract’s trading volume plunges or volatility becomes overwhelming to handle.

NEIRO exhibits massive bearishness after prolonged downsides.

The meme coin has lost over 60% of its value in the past year.

It has failed to rally despite broader market gains in the past months.

Its sluggish price actions have forced its loyal investors to exit.

NEIRO price outlook

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The altcoin leads the downside after losing over 20% within the past 24 hours. NEIRO trades $0.03114.

The 260% uptick in daily trading volume signals intensified user activity, potentially from traders and holders exiting after Binance’s announcement.

With the current broader market dip, NEIRO’s price will likely dip further before gaining ground.