Binance, the world’s largest cryptocurrency exchange, has made an announcement regarding the delisting of four altcoins from its spot market on July 22, 2024. The tokens that will be affected by this delisting are BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS).
Delisting Announcement and Details
Trading for all spot trading pairs of these tokens will stop at 11:00 UTC+8 based on an official announcement made on July 8. This will impact pairs including BOND/BTC, BOND/USDT, DOCK/BTC, DOCK/USDT, MDX/USDT, and POLS/USDT.
From July 22 onwards, users will no longer be able to deposit or withdraw any of the four cryptocurrencies. Existing orders will be automatically cleared after Binance halts trading on the respective pairs. The exchange may convert the delisted tokens to stablecoins on behalf of users after the removal. These tokens will also be removed from Binance Simple Earn, Auto-Invest, Margin, and Binance Funding Rate Arbitrage programs before they are officially halted. Please note that the value of these tokens may be affected by the delisting, and users are advised to consider this when making their decisions.
Reasons Behind the Delisting
The delisting of these tokens is part of Binance’s regular review process to ensure the security, compliance, and performance of assets listed on the platform. Binance recently celebrated its seventh anniversary on July 5 and regularly evaluates various factors, including the commitment of project teams, development activity, network stability, and trading volume. Tokens that no longer meet Binance’s rigorous standards are subject to delisting to maintain a high-quality global trading environment for its 200 million users.
User Advisory
Crypto traders holding any of the four digital assets should prepare for the delisting by taking necessary actions before the deadline. Before the delisting occurs, Binance advises users to close all positions and withdraw any balances of BOND, DOCK, MDX, and POLS.
Binance’s Watchlist Update
The delisting of these four tokens comes a week after Binance 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. None of the four tokens delisted on July 22 were part of the 11 cryptocurrencies recently added to Binance’s Monitoring Tag.
On June 28, the company also ceased trading Shiba Inu (SHIB), the second-largest meme coin in the industry, and removed other tokens including Chainlink, Memecoin, Blur, Metis, NFPrompt, and Osmosis. The delisting of these tokens was due to [specific reason for delisting].
