NewsletterBinance Adds Nearly A Dozen Crypto Assets To ‘Monitoring Tag’ List
Crypto exchange giant Binance announced Thursday it is adding nearly a dozen new coins and tokens to its ‘Monitoring Tag’ list. These assets include ANT, FIRO, KP3R, MDX, MOB, REEF, VAI, XMR, ZEC, and ZEN.
Explaining the reason behind the move, Binance said these tokens showed higher volatility and risks as compared to their peers. Furthermore, it warned that assets labeled with the Monitoring Tag face possible delisting from the platform.
Binance Might Remove Monitoring Tag After Periodic Reviews
“Tokens with the Monitoring Tag exhibit notably higher volatility and risks compared to other listed tokens. These tokens are closely monitored, with regular reviews conducted. Keep in mind that tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform,” Binance’s statement read.
The decision to remove the Monitoring Tag will be taken after periodic project reviews, Binance added. The review will take into account several factors, including a team’s commitment to the project, level and quality of development activity, trading volume and liquidity, and vulnerability of the network to security breaches.
Beyond that, Binance will also take stock of a network’s smart contract stability, level of public communication, response to its periodic due diligence requests, evidence of unethical/fraudulent conduct or negligence, and contribution to a healthy and sustainable crypto ecosystem.
What’s Next For Crypto Traders?
Furthermore, users can only trade tokens marked with a Monitoring Tag if they pass the corresponding quizzes, which will be held in 90 days on the Binance Spot and/or Binance Margin platforms.
Notably, Binance has also removed the Seed Tag from two crypto assets—namely GMX (GMX) and SushiSwap (SUSHI).
In related news, Binance has also delayed the launch of USDC-margined perpetual contracts for major digital assets — including that of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), BNB, and XRP. The launch, initially scheduled for Jan 3, has now been postponed to Jan 4, the crypto exchange said, citing recent market volatility.
Also Read: Binance Announces New Solana (SOL), BNB, NFP, SEI & Other Crypto Margin Pairs
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