Leading cryptocurrency exchange, Binance, has announced its plans to delist four assets from its platform starting July 22. Binance will no longer list or trade all spot trading pairs of BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS).
According to an announcement on the crypto exchange’s support page, Binance decided to drop the affected tokens following its periodic review.
“At Binance, we periodically review each digital asset we list to ensure that it continues to meet a high level of standard and industry requirements. When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it.”
“Our priority is to ensure the best services and protections for our users while continuing to adapt to evolving market dynamics.”
The cryptocurrency exchange cited several key metrics that necessitate the delisting of the token during the periodic review of tokens. For instance, during the periodic reviews of any token, Binance considers the trading volume and liquidity, updated regulatory frameworks, the team’s dedication to the project, the level and quality of development activity, etc.
As a result, BOND, DOCK, MDZ, and POLS appear to have failed to meet Binance’s stringent listing criteria, necessitating their delisting.
In addition to delisting the tokens, the platform will remove trading pairs BOND/BTC, BOND/USDT, DOCK/BTC, DOCK/USDT, MDX/USDT, and POLS/USDT.
Following news of delistment, the value of the affected tokens dropped significantly. DOCK dropped nearly 30%, BOND and POLS suffered over 17% losses, while MDX fell by 23.65%.
Binance Extends Monitoring Tag to 11 Tokens
Last week, the leading crypto exchange attached monitoring tags to 11 tokens including BAL, CTXC, CVP, CVX, DOCK, HARD, IRIS, MBL, POLS, SNT & SUN.
Adding these tokens to the Monitoring Tags implies a likelihood of non-compliance with listing criteria, which could potentially lead to delisting from the platform.
Two tokens with monitoring tags on Binance, DOCK and POLS, will be delisted from the platform starting July 22.
In a recent development, Binance launched its BNB HODLer Airdrops program to reward holders of Binance Coin (BNB) airdropped tokens from emerging projects poised for listing on the exchange.
