Binance, one of the world’s leading cryptocurrency exchanges, has announced an update to its list of monitoring tags. According to Binance, starting July 1, 2024, the platform will expand its monitoring tags to include 11 new tokens and remove two existing ones.
Token added to monitoring tag
Here are the tokens to add to your monitoring tags list:
- Balancer (BAL)
- Cortex (CTXC)
- Powerful (CVP)
- Convex Finance (CVX)
- Dock
- Kava Rend (HARD)
- IRISNET (IRIS)
- MovieBloc (MBL)
- Polka Starter (POLS)
- Status (SNT)
- Sun Token (SUN)
Tokens removed from monitoring tags
Tokens that have their monitoring tags removed are:
- Enzyme (MLN)
- Horizen (ZEN)
Tokens with monitoring tags are subject to significantly higher volatility and risk compared to other listed tokens. These tokens are closely monitored and regularly reviewed. Please note that tokens with monitoring tags no longer meet Binance’s listing criteria and are at risk of being delisted from the platform.
User Requirements
To gain trading access for tokens marked with a monitoring tag, users must pass a quiz every 90 days on the Binance Spot and/or Binance Margin platforms and agree to the Terms and Conditions. The quiz was set up to ensure users were aware of the risks before trading tokens with a monitoring tag. Users can find the monitoring tags on the corresponding Binance Spot and Binance Margin trading pages and the Markets Overview page. A risk warning banner is also displayed for all tokens with the monitoring tag.
Review criteria
Binance conducts regular project reviews and determines whether monitoring tags should be added or removed from tokens based on the latest findings. Criteria considered during review include:
- Team commitment to the project
- Level and quality of development activities
- Trading volume and liquidity
- Network stability and safety from attacks
- Network/Smart Contract Stability
- public communication level
- Responsiveness to periodic audit requests
- Evidence of unethical/fraudulent conduct or negligence
- Contribute to a healthy and sustainable cryptocurrency ecosystem
Additional Notes
- Other services related to the aforementioned tokens are not affected.
- Monitoring tags for the aforementioned tokens will be updated shortly after this announcement is published.
- The English translation of this original article may contain inconsistencies. In case of any discrepancies, please refer to the original version for the most current or accurate information.
Binance’s updates to its monitoring tag list are part of its ongoing efforts to promote transparency and long-term, sustainable growth within the cryptocurrency ecosystem.
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