One of the world’s top cryptocurrency exchanges, Binance, has announced its decision to delist BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS). This delisting process is set to commence on July 22, 2024, as part of Binance’s regular review of listed altcoins to ensure they adhere to high standards and market conditions.
Which Altcoins and Trading Pairs Are Affected?
Binance conducts periodic evaluations of all listed cryptocurrencies to ensure they meet stringent criteria and industry standards. Based on these reviews, certain altcoins may be removed if they fail to meet the necessary benchmarks or if there are significant changes in market dynamics. This process aims to maintain the quality of service provided to Binance users.
The specific trading pairs to be delisted include BOND/BTC, BOND/USDT, DOCK/BTC, DOCK/USDT, MDX/USDT, and POLS/USDT. The exchange has stated that this decision is in line with their commitment to user satisfaction and market adaptability.
When Will the Delisting Happen?
The delisting of BOND, DOCK, MDX, and POLS is scheduled for July 22, 2024, at 06:00 AM UTC. Following this, deposits for these altcoins will not be accepted from July 23, 2024, at 06:00 AM UTC, and withdrawals will cease from October 22, 2024, at 06:00 AM UTC. Binance has informed users to take necessary actions to mitigate potential losses.
Actionable Insights for Users
- Close positions in BOND, DOCK, MDX, and POLS before July 22, 2024.
- Transfer these assets to another platform to avoid disruption.
- Be aware of service halt dates for Simple Earn, Auto-Invest, VIP Loan, and Margin.
- Monitor for potential conversion options to stablecoins.
As the delisting date approaches, Binance advises users to prepare for these changes by closing their positions or moving their assets to different platforms. While there is a possibility of converting the delisted tokens into stablecoins, this is not guaranteed.