- Binance expanded its Monitoring Tags to multiple altcoins, signaling delisting risks.
- The exchange removed Seed Tags for JUP, STRK, and TON, giving relief to investors.
- Several altcoins, including ARDR, suffered significant price drops between 20%–30%.
Binance updated its token classifications, removing Seed Tags from several altcoins while expanding its Monitoring Tag list to others, sparking investor concerns as many affected tokens experienced sharp price declines.
Binance Updates Token Tags: Seed Removed, Monitoring Added
In its latest announcement, Binance revealed cryptocurrencies including Jupiter (JUP), Starknet (STRK), and Toncoin (TON) have had Seed Tags removed.
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Concurrently, Ardor (ARDR), Biswap (BSW), Flamingo (FLM), LTO Network (LTO), NKN (NKN), PlayDapp (PDA), Perpetual Protocol (PERP), Viberate (VIB), Voxies (VOXEL), and Wing Finance (WING) were placed under Monitoring Tags.
Monitoring Tag Signals Higher Risk, Potential Delisting
Binance defines Monitoring Tags as signaling higher volatility and increased risks for specific tokens, subjecting them to more stringent evaluations.
The exchange clarified that tokens bearing these tags undergo regular scrutiny and face potential delisting if they fail required standards.
Related: Binance Seeds Launches Talent Programs for Crypto Growth
The exchange clarified that tokens bearing these tags undergo regular scrutiny, with the possibility of delisting if they fail to meet the required standards.
Binance’s review process considers factors like team commitment, development activity, trading volume/liquidity, network security, regulatory compliance, and community engagement. Failure to meet these criteria can result in removal from the platform.
Crypto Community’s Trust in Binance Wavers
The market reaction to Binance’s updated classifications was severe. ARDR plunged nearly 8%, while other altcoins added to the Monitoring Tag list saw declines ranging from 20% to 30% within a day.
Similar crashes in the price of altcoins recently listed Binance—such as ACT, DEXE, and DF—fueled investor outrage and accusations of price manipulation. The perception that Binance’s decisions significantly impact token values has intensified speculation about the exchange’s market influence.
ACT, for instance, saw a drastic 57% drop on April 1st, followed by another 23% decline on April 2nd, and dropped another 22% in the past 24 hours, per CoinMarketCap data.
Journalist Colin Wu also highlighted significant crashes in TST, MASK, LEVER, and Catizen (CATI) on Binance.
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