Alert! Binance adjusts Monitoring and Seed tags for these tokens

Binance, one of the world’s largest cryptocurrency exchanges, on Thursday announced changes to its Monitoring Tag and Seed Tag for a list of tokens. It will come into effect from January 4, 2024. However, this development comes when Bitcoin (BTC) trading over $45,000 price level suddenly dipped to the $40k price level affecting the entire crypto market.

According to Binance, here are the tokens to be added to the Monitoring Tag list include:

1. Aragon (ANT)

2. Firo (FIRO)

3. Keep3rV1 (KP3R)

4. Mdex (MDX)

5. MobileCoin (MOB)

6. Reef (REEF)

7. Vai (VAI)

8. Monero (XMR)

9. Zcash (ZEC)

10. Horizen (ZEN)

Tokens with the Monitoring Tag are subject to higher volatility and risks compared to other listed tokens. Binance closely monitors these tokens, conducting regular reviews. However, they may be at risk of no longer meeting listing criteria and could be delisted from the platform. Tokens with the Seed Tag represent new and innovative projects with higher volatility and risks.

However, these are the tokens to be removed from the Seed Tag list:

1. GMX (GMX)

2. SushiSwap (SUSHI)

Binance mentioned that to trade tokens with the Monitoring Tag or Seed Tag, users are required to pass corresponding quizzes every 90 days on Binance Spot and/or Binance Margin platforms and accept the Terms of Use. The quizzes aim to ensure users understand the associated risks before trading these tagged tokens.

Monitoring Tags and Seed Tags can be found on the Binance Spot and Binance Margin trading pages, as well as on the Markets Overview page. A risk warning banner will be displayed for all tokens with these tags.

Binance emphasizes that periodic project reviews will determine whether Monitoring Tags and Seed Tags should be added to or removed from tokens based on specific criteria, including the commitment of the team to the project, development activity, trading volume, network stability, public communication, and contribution to a healthy crypto ecosystem.

Earlier, Binance Futures announced the postponement of the launch of USDC-Margined BTC, ETH, BNB, SOL, and XRP Perpetual Contracts. It was originally scheduled for January 3, 2024, at 12:30 (UTC). The delay is attributed to current market volatility, to ensure a smooth trading experience for users.

The USDC-Margined BTC Perpetual Contract will now launch on January 4, 2024, at 12:30 (UTC), followed by the USDC-Margined ETH, BNB, SOL, and XRP Perpetual Contracts, listed subsequently every five minutes after the BTC contract. The market recorded a brief downturn, possibly triggered by concerns raised in a Matrixport report.

Get Crypto Trading Signals from Real Crypto Analysts. Join our Waiting List at todayq.com