One of the premier cryptocurrency exchanges globally, Binance has revealed its plan to eliminate BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS) from its platform. The decision to delist these coins is part of Binance's regular review process aimed at upholding quality standards and adapting to market changes.
Impact on Altcoins and Trading Pairs
Binance conducts periodic assessments of listed cryptocurrencies to ensure they meet specific criteria and industry standards. If a cryptocurrency fails to meet the criteria or experiences substantial market shifts, it may face delisting. This process is designed to maintain high service standards for Binance users.
The trading pairs affected by this delisting include BOND/BTC, BOND/USDT, DOCK/BTC, DOCK/USDT, MDX/USDT, and POLS/USDT. Binance has emphasized that this decision is in line with their commitment to user satisfaction and market dynamics.
Delisting Timeline
The removal of BOND, DOCK, MDX, and POLS is scheduled for July 22, 2024, at 06:00 AM UTC. From this date, deposits for these coins will not be accepted, with withdrawals ceasing on October 22, 2024, at 06:00 AM UTC. Binance advises users to take precautionary measures to mitigate potential losses.
User Recommendations
- Close positions in BOND, DOCK, MDX, and POLS before July 22, 2024.
- Transfer assets to other platforms to minimize disruptions.
- Take note of the suspension dates for services like Simple Earn, Auto-Invest, VIP Loan, and Margin.
- Keep an eye out for possible conversion options to stablecoins.
As the delisting date approaches, Binance recommends that users prepare by closing positions or transferring assets to different platforms. Although there may be an opportunity to convert delisted tokens to stablecoins, it is not guaranteed.
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