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Binance to Delist BOND, DOCK, MDX, POLS on July 22, 2024

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Binance, one of the largest cryptocurrency exchanges, has announced the delisting of four tokens: BOND, DOCK, MDX, and POLS, effective July 22, 2024. This decision follows a comprehensive review of the digital assets listed on the platform to ensure they meet Binance’s high standards and industry requirements.

According to Binance, several factors influence the decision to delist a digital asset. These include the commitment of the project team, the level and quality of development activity, trading volume and liquidity, network stability, and responsiveness to due diligence requests. Other considerations include evidence of unethical conduct, compliance with new regulatory requirements, and the asset’s contribution to a healthy and sustainable crypto ecosystem.

Effective July 22, 2024, at 03:00 (UTC), Binance will cease trading on all spot trading pairs for BOND, DOCK, MDX, and POLS. The specific trading pairs being removed are BOND/BTC, BOND/USDT, DOCK/BTC, DOCK/USDT, MDX/USDT, and POLS/USDT. Following the delisting, all trade orders will be automatically removed, and the tokens’ valuations will no longer be displayed in users’ wallets. Users are advised to ensure that they have not selected “Hide Small Balances” in their wallets to view their assets post-delisting. Deposits of these tokens after July 23, 2024, will not be credited, and withdrawals will not be supported after October 22, 2024.

Several Binance services will be affected by the delisting. Binance Simple Earn will delist the tokens on July 19, 2024. Users can redeem their Flexible Products positions beforehand, or they will be automatically redeemed and transferred to users’ Spot Wallets. Binance Auto-Invest will remove the tokens on July 15, 2024. Users are encouraged to remove their plans beforehand. VIP Loan will close all outstanding loan positions related to these tokens by July 17, 2024. Users should repay their loans to avoid potential losses. Binance Margin will suspend isolated margin borrowing on July 12, 2024, and close all positions on July 17, 2024. Portfolio Margin users are advised to transfer the tokens out of their Margin Wallet and monitor their margin balance to avoid liquidation. Binance Convert will maintain a Sell-only function from July 18, 2024, to July 22, 2024, before delisting the tokens. Binance Gift Card and Binance Pay will also delist the tokens on July 22, 2024. Trading Bots services for the spot trading pairs will terminate on July 22, 2024.

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Users holding BOND, DOCK, MDX, and POLS are advised to take necessary actions before the specified deadlines to avoid any inconvenience. Binance has assured that it will not be liable for any losses incurred due to the delisting process.

Source: blockchain.news

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Blockchain

Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis

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A new Ethereum meme coin, Pochita ($POCHITA), has made headlines after skyrocketing in value shortly after its launch. According to on-chain data, one trader turned an initial investment of $3,000 into $150,000 in under three hours, reflecting a near-5000% profit. This rapid surge has drawn comparisons to other meme coins like Bonk ($BONK), which gained significant attention in the Solana ecosystem.

Pochita launched on October 2, 2024, quickly reaching a $20 million market cap within 9 hours, despite the broader crypto market contracting by 2.9% over the past 24 hours. The meme coin sector also dipped 3.2%, now valued at $47.5 billion. Despite the falling prices, Pochita’s rapid rise suggests strong investor sentiment around meme coins remains, especially following recent Federal Reserve interest rate cuts.

Though meme coins are known for their volatility and lack of clear fundamentals, they can provide quick gains for traders. Pochita is being discussed as a potential successor to Bonk, and if it continues its growth, it could join the ranks of other top meme coins like Dogecoin, Shiba Inu, and Pepe Coin.

At the same time, other projects such as Crypto All-Stars ($STARS) are providing new avenues for meme coin holders by offering a unified staking platform where users can stake various meme coins and earn rewards. Crypto All-Stars has already raised over $1.9 million in its presale, indicating strong interest in platforms that provide utility and passive income opportunities for meme coin enthusiasts.

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Source: cryptonews.com

The post Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis appeared first on HIPTHER Alerts.

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Blockchain

Binance warns of crypto market risks from overvaluation, centralization

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A recent Binance report highlights critical risks in the cryptocurrency market, warning of the dangers posed by inflated valuations and centralized token ownership. The report cautions that if these issues remain unaddressed, they could destabilize the long-term stability and growth of the crypto industry.

Valuation Concerns: The report emphasizes that overvaluation, particularly in newly launched tokens with low circulating supply, could lead to market bubbles and poor performance. Venture capital funds, which once aggressively invested in crypto, are now scaling back and shifting focus to sectors with more sustainable valuations. As the market becomes saturated with new tokens, the circulating supply could increase exponentially, further straining performance.

Centralization of Token Ownership: Binance also flags the risks of centralization, where large tokenholders dominate ownership. This concentration of power can result in governance issues, market manipulation, and potential crashes caused by sudden sell-offs. The report stresses the need for decentralized control and broad participation to maintain the integrity and resilience of crypto projects.

Transparency and Trust: To mitigate these risks, the report underscores the importance of transparency in fund management. A lack of clear disclosures can erode stakeholder trust and harm project sustainability. Binance notes that greater transparency, like the adoption of proof-of-reserves by platforms such as Coinbase, is crucial for fostering responsible financial management and building long-term trust in the market.

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In conclusion, the report urges the crypto industry to prioritize decentralized governance and transparency to ensure sustainable growth and maintain market confidence.

Source: cointelegraph.com

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COPA, Unified Patents Partner to Fight Crypto Patent Trolls

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The Cryptocurrency Open Patent Alliance (COPA) has teamed up with Unified Patents to launch the Blockchain Zone initiative, aimed at combating “patent trolls” in the crypto industry. Patent trolls, or non-practicing entities (NPEs), are known for exploiting patent rights through litigation rather than developing new technologies. COPA and Unified Patents aim to prevent such entities from hindering blockchain innovation by making costly and baseless patent assertions.

The initiative is designed to safeguard blockchain and related technologies from these unwarranted patent claims, fostering an environment where developers and companies can innovate freely without fear of legal threats. Key figures in the partnership, such as Paul Grewal from Coinbase and Steve Lee from Spiral, emphasize that patent trolls create significant barriers to technological progress, especially in the fast-evolving crypto space.

By aligning with over 300 companies through Unified Patents, COPA’s effort strengthens its mission to protect the blockchain community and the broader crypto-economy from the disruptive impact of NPEs, ensuring that blockchain innovation remains open and accessible.

Source: news.bitcoin.com

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