Binance, one of the leading cryptocurrency exchanges, has announced the delisting of four tokens – BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS) – effective July 22, 2024.
This decision, which follows Binance’s routine assessments to ensure all listed altcoins meet their stringent quality and market standards, has sent ripples through the crypto market, leaving investors and traders in a state of speculation and concern.
Impact of Binance’s Delisting of BOND, DOCK, MDX, and POLS
BOND, DOCK, and MDX were delisted from the exchange depending on several factors the exchange always considers for delisting.
This includes how committed the development team is to the project, how much and how well they work on it, the trading volume and liquidity, how safe and stable the network is from attacks, how stable the network and smart contracts are, how much the public communicates, how quickly they respond to periodic due diligence requests and other things that have a direct effect on the basic health of different assets or projects.
The market prices of BOND, DOCK, MDX, and POLS have dropped sharply since the announcement. According to CoinMarketCap, the DOCK dropped almost 50%, the MDX fell 42%, and the BOND and POLS fell over 20% right after the news came out. This decision has changed the market’s sentiments, making people worry about these tokens’ future value.
Binance alerts all users to be cautious, close their positions, and move their assets to other platforms to lower any risks associated with these changes. Users must withdraw these tokens by July 22, 2024. If not, Binance might convert the delisted tokens into stablecoins, although this is not guaranteed and will be subject to a future notification.
