Binance Adds New Coins and Tokens to Monitoring Tag List
Crypto exchange Binance has announced the addition of several new coins and tokens to its ‘Monitoring Tag’ list. The newly added assets include ANT, FIRO, KP3R, MDX, MOB, REEF, VAI, XMR, ZEC, and ZEN. Binance stated that these tokens have shown higher volatility and risks compared to their peers. The exchange also warned that assets labeled with the Monitoring Tag may face potential delisting in the future.
Possible Removal of Monitoring Tag After Reviews
Binance mentioned that the decision to remove the Monitoring Tag will be made after periodic project reviews. During these reviews, factors such as a team’s commitment to the project, development activity, trading volume, liquidity, security vulnerabilities, smart contract stability, public communication level, response to due diligence requests, unethical conduct or negligence, and contribution to the crypto ecosystem will be taken into account.
Requirements for Trading Tokens with Monitoring Tag
Users can only trade tokens marked with a Monitoring Tag if they pass the corresponding quizzes. These quizzes will be held on the Binance Spot and/or Binance Margin platforms after 90 days.
Removal of Seed Tag for GMX and SushiSwap
Binance has also removed the Seed Tag from two crypto assets: GMX and SushiSwap.
Binance Delays Launch of USDC-Margined Perpetual Contracts
Binance has postponed the launch of USDC-margined perpetual contracts for major digital assets such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), BNB, and XRP. The launch was originally scheduled for January 3 but has been rescheduled for January 4 due to recent market volatility.
Hot Take: Binance Expands Monitoring Tag List and Delays Perpetual Contract Launch
Binance’s decision to add new coins and tokens to its Monitoring Tag list reflects the exchange’s commitment to managing risk and ensuring a healthy trading environment. By closely monitoring these assets and conducting periodic reviews, Binance aims to protect traders from highly volatile and risky investments. Additionally, the delay in the launch of USDC-margined perpetual contracts demonstrates Binance’s responsiveness to market conditions and commitment to providing a stable trading experience. These actions highlight Binance’s dedication to maintaining a secure and sustainable crypto ecosystem for its users.
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