Binance, the largest cryptocurrency exchange in the world, has announced the delisting of four cryptocurrencies – BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS). This decision has caused a significant drop in the prices of these assets. Trading pairs involving these cryptocurrencies will no longer be supported starting from July 22.
In addition to terminating spot trading pairs, Binance will also stop deposits of these assets after July 23 and withdrawals after October 22. This move has led to a double-digit price crash for all the affected cryptocurrencies, with DOCK experiencing a 50% drop in valuation within 24 hours.
When a digital asset is removed from a major exchange like Binance, it can result in a substantial decrease in price due to factors such as reduced liquidity and investor confidence. This situation mirrors what happened earlier this year when Monero (XMR) was delisted from the platform, leading to a 35% price decline for the privacy coin.
Just recently, Binance also discontinued trading services for six pairs and introduced three new trading pairs on its platform. However, some users from specific regions are restricted from accessing these services. It is important to note that Binance is constantly updating its offerings to adapt to market trends and provide the best user experience.
Overall, the delisting of cryptocurrencies on Binance serves as a reminder of the volatility and ever-changing nature of the cryptocurrency market. Investors should stay informed about such developments to make sound decisions regarding their digital asset holdings.