- Binance extends its “Monitoring Tag” to include more crypto tokens.
- The exchange adds BLZ, CLV, KEY, PROS, and VITE to the Monitoring Tag.
- Tokens under the Monitoring Tag are subject to extensive scrutiny and risk delisting.
Binance will soon place more crypto tokens under its “Monitoring Tag.” In a recent announcement, the crypto exchange stated that Bluzelle (BLZ), CLV (CLV), SlefKey (KEY), Prosper (PROS), and VITE (VITE) will be added to the Monitoring Tag on Thursday, October 3.
Binance explained to its users that the listed tokens will be monitored closely by the team and will be reviewed regularly. The crypto exchange emphasized that tokens under the Monitoring Tag are more volatile and risky than other crypto tokens listed on the platform.
Furthermore, Binance warned that tokens in this category risk delisting, as they may no longer meet the crypto exchange’s listing criteria. In the meantime, these tokens will be harder to access. To trade them, users must pass quizzes every 90 days on the Binance spot and Binance Margin platforms.
Read also :Binance Updates Monitoring Tag List: 11 Tokens Face Potential Delisting
These quizzes are designed to ensure users understand the risks involved with trading these crypto assets. After periodic project reviews, Binance may remove any of these crypto tokens from its exchange.
It is important to remember that the tokens Binance adds to the Monitoring Tag typically belong to crypto projects with working products and some level of adoption. However, such tokens can be risky due to legal, regulatory, technological, and market challenges.
While these tokens are in the Monitoring Tag section, Binance will examine various aspects of the projects, including the team’s commitment, quality of development activity, trading volume, liquidity, network safety and stability, and other factors that contribute to project building and sustainability.
After being monitored, projects that pass the crypto exchange’s review will be moved back to the main section of the exchange, while those that fail may be delisted.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
