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Binance announced the removal of several trading pairs that are experiencing low activity, lack sufficient liquidity, or are not very popular among its current user base.
Binance revealed that it aims, through this step, to maintain strict quality standards for the assets listed on its platform.
So, as a Binance user and if you own any of these digital currencies, it is important to prepare for the upcoming changes.
As for the digital currencies in question, they are as follows:
BarnBridge (BOND)، وDock (DOCK)، وMdex (MDX)، وPolkaster (POLS).
Factors affecting the deletion of digital currencies:
Deletion decisions by Binance are affected by several factors, including:
The dedication of the development teams to the project.
The volume and level of development activity.
Trading volume and liquidity.
Network security and stability.
Stability of smart contracts or network.
Degree of public communication and response to periodic development requests.
Due diligence and other factors affecting the safety of digital currencies.
When trading expires, all trading orders will be automatically cancelled.
Deleting cryptocurrencies will remove them from wallets, and deposits made after July 23, 2024 will not be added to user accounts.
On October 22, 2024, withdrawals for these digital currencies will no longer be accepted.
After October 23, 2024, users can convert deleted cryptocurrencies into stablecoins, but this conversion is not guaranteed.
Therefore, as a tip to users and to avoid any potential losses, users of “Binance Simple Earn”, “Auto-Invest”, “Binance Loans” and “Binance Margin” are advised to manage their positions and assets before the specified deadlines to ensure a smooth transition and adaptation to the announced changes.
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