Binance Implements Monitoring Tag for Certain Tokens
Binance, one of the largest cryptocurrency exchanges, has introduced a new “Monitoring Tag” for certain tokens that exhibit higher volatility and risks compared to other listed tokens. These tokens will be closely monitored and regularly reviewed. Binance also warned that these tokens may no longer meet their listing criteria and could be delisted from the platform. Users who wish to trade these tagged tokens must pass quizzes every 90 days to gain trading access.
OKX Takes Similar Action
Last week, OKX, another major cryptocurrency exchange, also took action against certain coins. They announced the delisting of several trading pairs, including ANT-USDC, XMR-BTC, XMR-ETH, XMR-USDT, XMR-USDC, ZEC-BTC, ZEC-USDT, ZEC-USDC, ZEN-BTC, and ZEN-USDT.
Hot Take: Exchanges Respond to Volatility and Risks
The recent moves by Binance and OKX highlight the growing concern among cryptocurrency exchanges regarding the volatility and risks associated with certain tokens. By implementing monitoring tags and delisting trading pairs, these exchanges aim to protect users from potential losses. However, this also raises questions about the criteria used to determine which tokens are considered high-risk. As the crypto market continues to evolve, it is crucial for investors to stay informed and understand the potential risks involved in trading different tokens.
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