- Observation tags spark market-wide panic, triggering steep selloffs across flagged tokens
- BAKE, IDEX, and SLF plunge 10–12% as Binance flags them for performance concerns
- Massive volume spikes indicate panic-driven exits and heightened trading volatility
Binance has placed three tokens, BakeryToken (BAKE), IDEX, and Self Chain (SLF) under review by adding them to its “observation tag” list, effective today, July 7, 2025.
The move, which follows a recent review of the projects, signals Binance’s concerns that they may no longer meet the exchange’s strict listing standards. The announcement immediately triggered a sharp, negative market reaction for all three assets, with double-digit price drops amid fears of a potential future delisting.
What Binance “Observation Tag” Means
The observation tag is a formal warning that Binance applies to tokens it deems to have higher-than-normal volatility and risk. These projects are then subjected to increased scrutiny and close monitoring.
While the tag does not mean an immediate delisting, the exchange explicitly warns that tagged tokens are at risk of being removed from the platform if they fail to meet ongoing review criteria related to project development, security, and transparency. This places the onus on the project teams to address Binance’s concerns.
BAKE, IDEX, and SLF Suffer Steep Corrections
Following Binance’s announcement, BAKE saw a significant drop, sliding over 10% to $0.0887. This marked a sharp retreat from its earlier trading range of $0.0997. The price hovered near the $0.0870–$0.0875 support zone but struggled to maintain stability.
If the price breaches this level, it may test the next support at around $0.0850. On the upside, resistance is forming near $0.0925 and $0.0997. Interestingly, trading volume soared by over 800%, suggesting aggressive sell pressure or large-scale repositioning.
Related: Binance to Monitor More Tokens: What Factors Are Driving This Decision?
IDEX followed a similar bearish path. The token tumbled nearly 12%, settling at $0.01595 after opening at $0.0186. Support has emerged between $0.01550 and $0.01560, but breaking this range could push prices toward the psychological $0.015 level.
Resistance levels are forming around $0.01670 and $0.01860. Additionally, IDEX saw a volume spike of over 140%, reflecting possible panic selling or speculative exits.
Related: Binance Delists These Four Tokens: Check Your Bags Now
Self Chain (SLF) also felt the market’s pressure, falling close to 10% to trade at $0.06432. The token is testing support between $0.0635 and $0.0640, with further downside risk toward $0.0620 or even $0.0600 if weakness continues.
Resistance zones are forming near $0.0665 and $0.0712. Like the others, SLF’s trading volume surged sharply, showing high turnover likely driven by anxious market participants.
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