On April 3, Binance announced that it would add a new set of tokens to its monitoring list. These tokens are under closer scrutiny and may face delisting following the upcoming review period.
This move follows the exchange’s aims to increase transparency while offering more clarity regarding the risk levels associated with different cryptocurrencies.
10 Altcoins in Danger of Binance Delisting
As part of this update, the following tokens will be added to the Monitoring Tag list: Ardor (ARDR), Biswap (BSW), Flamingo (FLM), LTO Network (LTO), NKN (NKN), PlayDapp (PDA), Perpetual Protocol (PERP), Viberate (VIB), Voxies (VOXEL) and Wing Finance (WING).
Tokens added to the Monitoring Tag exhibit notably higher volatility and risk compared to other listed tokens. Binance will closely monitor these tokens, with regular reviews to assess their compliance with the platform’s listing criteria.
“Tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform,” Binance said.
Following the announcement, the prices of the mentioned altcoins plummeted by double-digits.
In addition to the new Monitoring Tag additions, Binance will also remove the Seed Tag from Jupiter (JUP), Starknet (STRK), and Toncoin (TON).
Tokens marked with the Seed Tag are those that are still in their early stages of development and have not yet met Binance’s full listing criteria. The removal of the Seed Tag indicates a change in the status of these projects. This suggests that they no longer fit the initial criteria for such a label.
Tokens with the Monitoring Tag or Seed Tag come with inherent risks. Binance ensures that users are well-informed before trading them. To access trading for these tokens, users must pass a risk awareness quiz every 90 days.
The quiz makes sure that users understand the potential risks associated with trading higher-risk tokens. Binance will also display a risk warning banner for these tokens on its Spot and Margin platforms.
Binance will continue to conduct periodic reviews of tokens with the Monitoring Tag and Seed Tag. During these reviews, several factors are taken into account. This includes the project team’s commitment, development activity, token liquidity, and community engagement.
The latest development follows a similar announcement from Binance in March. The exchange routinely delists tokens that fail to keep up with its criteria.
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