Binance to Cease Trading of BOND, DOCK, MDX, POLS on July 22

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As an experienced analyst in the cryptocurrency space, I’ve seen my fair share of delistings and market volatility. Binance’s recent announcement of delisting four altcoins – BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS) – from its platform on July 22, 2024, is a reminder of the dynamic nature of this industry.

Starting on July 22, 2024, Binance, the leading global cryptocurrency exchange, has made an announcement that they will be removing four different altcoins from their spot market. The tokens to be delisted are BarnBridge (previously known as BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS).

Starting July 8, as per an official statement, the trading halt for all spot markets of the mentioned tokens will commence at 11:00 UTC+8. This change will influence Bitcoin (BTC) and Tether USD (USDT) pairs for BOND, DOCK, MDX, and POLS tokens.

Delisting Details

Effective July 22, it will no longer be possible for users to make withdrawals or deposits for the following four cryptocurrencies. All open orders on these trading pairs will automatically be settled and closed by Binance.

After being delisted, these four tokens will be converted into stablecoins for users’ benefit by the exchange. Additionally, these tokens will no longer be available in Binance Simple Earn, Auto-Invest, Margin, and Binance Funding Rate Arbitrage programs before their official withdrawal at the specified date.

Binance announced that the removal of these tokens from its platform is a routine step taken to maintain the safety, adherence to regulations, and optimal functioning of the assets it hosts.

Binance, marking its seventh year in existence on July 5, continuously assesses several key aspects including the project team’s dedication, development progress, network reliability, and trading liquidity to determine if certain tokens no longer align with its stringent requirements. The exchange announced that such tokens may be removed from its platform to ensure a top-tier trading experience for its massive user base of over 200 million individuals worldwide.

If you own any of the mentioned digital assets (BOND, DOCK, MDX, or POLS), as a crypto trader, it is essential to get ready for their delisting by taking appropriate measures prior to the announced deadline. Binance urges its users to close all open positions and transfer any existing balances for these coins before they are officially removed from the platform.

Binance Adds 11 Cryptocurrencies to Its Watchlist

A week after revealing the addition of 11 new cryptocurrencies, such as Balancer (BAL) and Cortex (CTXC), to its list of tokens under consideration for deletion, the company has now decided to remove these four specific ones from its platform.

According to Binance, tokens under observation are deemed risky and undergo rigorous evaluation for price instability and adherence to their listing standards.

As a researcher studying the cryptocurrency market, I’d like to clarify that the four tokens removed from trading on Binance on July 22 were not included in the eleven digital currencies that had been added to Binance’s Watchlist within the same timeframe.

On June 28th, the company halted transactions for Shiba Inu (SHIB), a meme coin with an industry-leading market capitalization of almost $10 billion. Simultaneously, Binance terminated trading for Chainlink, Memecoin, Blur, Metis, NFPrompt, and Osmosis.

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2024-07-08 13:45