Binance to delist four altcoins by July 22
Binance to delist four altcoins by July 22
In an update, Binance revealed its decision to delist BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS) from its platform. The move comes after a comprehensive review to ensure all listed tokens meet Binance’s rigorous standards.
The delisting will take effect on July 22, 2024, at 03:00 (UTC), affecting all spot trading pairs involving these tokens.
Right after the announcement, the tokens that were affected saw a big drop in price. DOCK fell by almost 30%, MDX dropped by 23.65%, and BOND and POLS both lost over 17%, according to BeInCrypto.
Binance's decision is influenced by various factors, including the commitment of project teams, quality of development activity, trading volume, and overall network stability.
After July 22, 2024, trading for BOND/BTC, BOND/USDT, DOCK/BTC, DOCK/USDT, MDX/USDT, and POLS/USDT pairs will cease. All related trade orders will be automatically removed, and the tokens' valuations will no longer appear in user wallets unless small balances are hidden. Additionally, deposits for these tokens will no longer be credited after July 23, 2024, and withdrawals will be unsupported post-October 22, 2024.
Users are advised to take necessary actions, such as redeeming Flexible Products positions on Simple Earn and managing loan repayments involving these tokens, to avoid potential losses. Binance plans to convert delisted tokens into stablecoins where applicable, but this is not guaranteed.
The delisting highlights the dynamic nature of the cryptocurrency market and the ongoing need for exchanges to adapt to changing conditions.
