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- Binance adds 11 tokens to its Monitoring Tag list, indicating higher volatility and potential delistings.
- Binance users are required to pass a quiz every 90 days to trade tokens with the Monitoring Tag, ensuring awareness of associated risks.
- Binance conducts periodic reviews based on development activity, trading volume, and network stability to update the list.
Just In: Binance announced that it has added Monitoring tags to the following tokens, warning that these tokens may be delisted: Balancer (BAL), Cortex (CTXC), PowerPool (CVP), Convex Finance (CVX), Dock (DOCK), Kava Lend (HARD), IRISnet (IRIS), MovieBloc (MBL), Polkastarte…— Wu Blockchain (@WuBlockchain) July 1, 2024Tokens with the Monitoring Tag display higher volatility and risks compared to other listed tokens. Binance closely monitors these tokens, conducting regular reviews to ensure they meet the platform’s listing criteria. Tokens on this list risk delisting if they fail to meet these standards.To trade tokens with the Monitoring Tag, users must pass a quiz every 90 days on the Binance Spot and/or Binance Margin platforms. This quiz ensures that users understand the risks associated with these tokens. The Monitoring Tags are visible on the Binance Spot and Binance Margin trading pages, as well as the Markets Overview page. Additionally, a risk warning banner appears for all tokens with the Monitoring Tag. Binance conducts periodic project reviews to determine whether a token should be added to or removed from the Monitoring Tag list. Several criteria are considered during these reviews, including the commitment of the team to the project, the level and quality of development activity, trading volume and liquidity, and the stability and safety of the network from attacks.Other factors include network/smart contract stability, public communication levels, responsiveness to due diligence requests, evidence of unethical or fraudulent conduct, and contribution to a healthy crypto ecosystem.
Binance’s update to the Monitoring Tag list demonstrates the platform’s efforts to maintain high standards and protect users from risky investments. As the crypto market evolves, Binance remains vigilant in assessing the safety and viability of the tokens on its platform. The post Binance Updates Monitoring Tag List: 11 Tokens Face Potential Delisting appeared first on Coin Edition.