U.Today – Binance has announced the removal of numerous currency pairs that are either showing lower trading activity, have lower liquidity, or are simply not popular among the current trader base. The exchange will effectively remove these four assets from the platform, so if you hold any of them, get ready.
Maintaining strict standards for listed assets is a top priority at Binance. Frequent assessments ensure that each digital asset meets strict industry standards. Binance conducts a thorough review and may delist an asset if it no longer meets these standards or if the industry landscape changes. In order to adapt to changing market conditions and offer users the best services and protection, this procedure is essential.
Delisting of a digital asset depends on several factors including the dedication of development teams to the project, the volume and caliber of development activity, transaction volume and liquidity, network security and stability, smart contract or network stability, degree of public communication, responsiveness to periodic due diligence requests, and other factors that directly impact the fundamental health of various assets or projects.
BarnBridge (BOND), Dock (DOCK), Mdex (MDX) and Polkaster (POLS) are assets whose pairs will be delisted. As soon as trading ends, all trading orders will be automatically cancelled. Delisting the token will result in its valuation no longer being displayed in wallets, and deposits made after July 23, 2024 will not be credited to users' accounts.
After October 22, 2024, withdrawals will no longer be accepted. Additionally, after October 23, 2024, users will be able to convert their delisted tokens into stablecoins on their behalf; however, this conversion is not guaranteed.
To avoid potential losses, Binance Simple Earn Auto-Invest, Binance Loans and Binance Margin users are advised to manage their positions and assets before the designated deadlines.
This article was originally published on U.Today
