Binance, the world’s largest cryptocurrency exchange, has announced its plan to stop trading of BOND, DOCK, MDX, POLS on July 22, 2024.
Binance, the world’s largest cryptocurrency exchange, has announced the delisting of four altcoins from its spot market on July 22, 2024. The affected tokens are BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS).
The delisting of these four tokens comes a week after the company announced that it added 11 different cryptocurrencies, including Balancer (BAL) and Cortex (CTXC), to its watchlist for potential removal.
According to an official announcement on July 8, the cessation of trading for all spot trading pairs of these tokens will take effect at 11:00 UTC+8.
The removal will affect Bitcoin (BTC) and Tether USD (USDT) pairs of the four tokens, including BOND/BTC, BOND/USDT, DOCK/BTC, DOCK/USDT, MDX/USDT, and POLS/USDT.
Delisting Details
Starting July 22, users will no longer be able to withdraw or deposit any of the four cryptocurrencies. Existing orders will be automatically cleared after Binance halts trading on the respective trading pairs.
However, the exchange may convert the delisted tokens to stablecoins on behalf of users after the removal. The four tokens will also be removed from Binance Simple Earn, Auto-Invest, Margin, and Binance Funding Rate Arbitrage programs before they are officially halted at the stipulated date.
The exchange stated that the delisting of these tokens is part of its regular review process to ensure the security, compliance, and performance of assets listed on Binance.
Binance, which recently celebrated its seventh anniversary on July 5, routinely evaluates various factors such as the commitment of the project team, development activity, network stability, and trading volume to identify tokens that no longer meet its criteria.
The company revealed that tokens that no longer meet its rigorous standards are subject to delisting to maintain a high-quality trading environment for its 200 million users globally.
Crypto traders holding any of the four digital assets should be prepared for the delisting by taking necessary actions before the deadline.
Binance has advised users to close all positions and withdraw any balances of BOND, DOCK, MDX, and POLS before the delisting occurs.
Binance Adds 11 Cryptocurrencies to Its Watchlist
The delisting of these four tokens comes a week after the company announced that it added 11 different cryptocurrencies, including Balancer (BAL) and Cortex (CTXC), to its watchlist for potential removal.
Binance explained that tokens on the watchlist are considered high-risk and are closely monitored for volatility and compliance with its listing criteria.
However, it is important to note that none of the four tokens being delisted on July 22 were part of the 11 cryptocurrencies recently added to Binance’s Monitoring Tag.
On June 28, the company ceased trading Shiba Inu (SHIB), the second largest meme coin in the industry with a market cap of nearly $10 billion.
That same day, Binance also removed and ceased trading of Chainlink, Meme coin, Blur, Metis, NFPrompt, and Osmosis.