Binance Widens Oversight with 11 New Cryptos On Monitoring Tag

Binance, the prominent cryptocurrency exchange, revealed on Thursday its expansion of the ‘Monitoring Tag’ list to include almost a dozen new coins and tokens. Among the newly added assets are ANT, FIRO, KP3R, MDX, MOB, REEF, VAI, XMR, ZEC, and ZEN.

Binance clarified the rationale for the decision, citing increased volatility and risks in these tokens compared to their counterparts. Additionally, the platform cautioned that assets marked with the Monitoring Tag could potentially be removed from the exchange.

Tokens bearing the Monitoring Tag demonstrate significantly elevated volatility and risks in contrast to other listed tokens. These tokens undergo vigilant monitoring, accompanied by periodic reviews. It is essential to note that tokens featuring the Monitoring Tag may face the possibility of no longer meeting our listing criteria and could be subject to delisting from the platform,” stated Binances.

However, Binance will decide to remove the Monitoring Tag after evaluating the project. A number of elements will be considered in the evaluation, such as the team’s dedication to the project, the volume and calibre of development activities, trading volume and liquidity, and the network’s susceptibility to security breaches.

Binance Delays USDC Contracts Launch

In addition, Binance will evaluate Users must pass quizzes on Binance to trade monitored tokens in 90 days. Founded in 2017, it’s famous for its vast cryptocurrency options and user-friendly design. Binance offers spot, futures, staking, savings, and other services to users.

Notably, Binance removed the Seed Tag from two cryptocurrency assets: SushiSwap (SUSHI) and GMX (GMX). Please be aware that the cryptocurrency landscape is dynamic and susceptible to swift changes. Since my last update, there may have been new developments, regulations, or events that could impact the current state of affairs.

In related news, Binance has delayed the launch of USDC-denominated perpetual contracts for well-known digital assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), BNB, and XRP.

Related Reading |

The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.

Comments (No)

Leave a Reply