Important Update on Binance’s Monitoring Tag List 🚨
Binance, a prominent cryptocurrency exchange, recently announced changes to its Monitoring Tag list. Starting July 1, 2024, eleven new tokens will be added to this list, while two existing tokens will have the Monitoring Tag removed.
Tokens Added to the Monitoring Tag List
The newly added tokens to the Monitoring Tag list are:
- Balancer (BAL)
- Cortex (CTXC)
- PowerPool (CVP)
- Convex Finance (CVX)
- Dock (DOCK)
- Kava Lend (HARD)
- IRISnet (IRIS)
- MovieBloc (MBL)
- Polkastarter (POLS)
- Status (SNT)
- Sun Token (SUN)
Tokens Removed from the Monitoring Tag List
The tokens that will no longer have the Monitoring Tag are:
- Enzyme (MLN)
- Horizen (ZEN)
It is essential to note that tokens with the Monitoring Tag are associated with higher volatility and risks compared to other tokens listed on the platform. Continuous monitoring and reviews are conducted on these tokens to assess their adherence to Binance’s listing criteria.
User Requirements for Trading
To trade tokens marked with the Monitoring Tag, users must:
- Pass a quiz every 90 days on Binance Spot and/or Binance Margin platforms
- Accept the Terms of Use
These quizzes are designed to educate users about the risks involved in trading tokens with the Monitoring Tag. Monitoring Tags can be found on the respective trading pages and the Markets Overview page.
Review Criteria for Tokens
Binance evaluates projects regularly to determine if the Monitoring Tag should be added or removed based on the following criteria:
- Team commitment to the project
- Development activity levels and quality
- Trading volume and liquidity
- Network stability and safety from attacks
- Public communication efforts
- Compliance with due diligence requests
- Ethical practices and contribution to the crypto ecosystem
Additional Information
- Services related to the listed tokens will not be impacted.
- The Monitoring Tags will be updated shortly after this announcement.
- Translation discrepancies may exist; refer to the original English version for accurate information.
Binance’s decision to update the Monitoring Tag list reflects its commitment to transparency and sustainable growth in the cryptocurrency space.
HOT TAKE: Stay Informed and Trade Responsibly! 🌟
As a savvy cryptocurrency investor, it is crucial to stay updated on platform changes and token listings. Adhering to user requirements and understanding the risks associated with Monitoring Tag tokens can help you make informed trading decisions. Keep an eye on Binance’s updates for a smooth and secure trading experience in the crypto market.
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