Altcoins
BOND, DOCK, MDX, POLS featured
Binance, one of the world’s largest cryptocurrency exchanges, has announced the delisting of four altcoins.
BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastar (POLS) will be delisted on July 22, 2024, at 03:00 UTC. As a result, the market value of these tokens has dropped dramatically. As a result, the market value of these tokens has dropped dramatically.
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Binance has decided to delist altcoins to maintain high standards in the cryptocurrency world.
AS declared by the exchange:
“When tokens no longer meet our listing criteria or there are significant changes in the industry environment, we conduct a thorough review of the project and may delist them.”
Binance conducts a thorough analysis of various factors during the altcoin delisting process. The exchange considers several factors to make this decision:
- The commitment of the project team
- Development activities
- Trading volume
- Liquid assets
- Network Security
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The Market Impact of Binance Delisting Four Tokens
The affected tokens took a hit after Binance announced them. The biggest drop was experienced by DOCK, which lost about 30% of its value. MDX was hit by a 23.65% drop. BOND and POLS had losses that exceeded 17%.
Trading pairs involving these tokens will be halted. Specifically, these include BOND/BTC, BOND/USDT, DOCK/BTC, DOCK/USDT, MDX/USDT, and POLS/USDT. All existing trading orders will be automatically removed after the delisting is implemented.
It should be noted that Polkastarter (POLS) is a cross-chain token pool and auction protocol based on the Polkadot (DOT) blockchain. It was launched in October 2020 as a way for projects to raise capital in a decentralized environment.
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Key dates and actions must be met by token holders. These tokens must be withdrawn by users by October 22, 2024. After this date, delisted tokens may be converted into stablecoins by Binance, although this is not guaranteed and would be subject to future notifications.
The volatile nature of the cryptocurrency market is demonstrated by the delisting of these altcoins by Binance. This is a reminder to investors that it is crucial to stay informed about exchange policies. Additionally, portfolio diversification should be used to manage the risks associated with potential delistings.