Binance Updates Monitoring Tag for Multiple Tokens Including BAL, CTXC, and CVX
Binance, one of the world’s leading cryptocurrency exchanges, has announced an update to its Monitoring Tag list. Effective July 1, 2024, the platform will extend the Monitoring Tag to include eleven new tokens and remove it from two existing tokens, according to Binance.
Tokens Added to the Monitoring Tag
The tokens to be added 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
The tokens that will have the Monitoring Tag removed are:
Enzyme (MLN)Horizen (ZEN)
Tokens with the Monitoring Tag exhibit notably higher volatility and risks compared to other listed tokens. These tokens are closely monitored, with regular reviews conducted. Keep in mind that tokens with the Monitoring Tag are at risk of no longer meeting Binance’s listing criteria and being delisted from the platform.
User Requirements
To gain trading access to tokens marked with the Monitoring Tag, users will need to pass a quiz every 90 days on the Binance Spot and/or Binance Margin platforms, and accept the Terms of Use. The quizzes are set up to ensure users are aware of the risks before trading tokens with the Monitoring Tag. Users may find the Monitoring Tags on the corresponding Binance Spot and Binance Margin trading pages, as well as on the Markets Overview page. A risk warning banner will also be displayed for all tokens with the Monitoring Tags.
Review Criteria
Binance will conduct periodic project reviews and decide if the Monitoring Tag should be added to or removed from tokens based on the latest findings. The criteria considered during reviews include:
Commitment of team to projectLevel and quality of development activityTrading volume and liquidityStability and safety of network from attacksNetwork/smart contract stabilityLevel of public communicationResponsiveness to periodic due diligence requestsEvidence of unethical/fraudulent conduct or negligenceContribution to a healthy and sustainable crypto ecosystem
Additional Notes
Other services related to the aforementioned tokens will not be affected.The Monitoring Tags for the aforementioned tokens will be updated shortly after the publishing of this announcement.There may be discrepancies in the translated version of this original article in English. Please reference the original version for the latest or most accurate information where any discrepancies may arise.
Binance’s update to the Monitoring Tag list is part of its ongoing efforts to promote transparency and long-term, sustainable growth within the cryptocurrency ecosystem.
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