Binance Extends Monitoring Tag for 10 Tokens, Removes Seed Tag For JUP, STRK and TON

Key Points

• Binance extends the Monitoring Tag for ARDR, BSW, FLM, LTO, NKN, PDA, PERP, VIB, VOXEL, and WING.
• The crypto exchange took its latest decision based on recent reviews.

Following recent reviews, Binance decided to extend its Monitoring Tag for ten tokens and eliminate the Seed Tag for three digital assets today, April 3.

Tokens Included in the Monitoring Tag List

Binance extended its Monitoring Tag list to the following tokens:

1. Ardor (ARDR) – A multichain blockchain platform with a parent-child chain architecture
2. Biswap (BSW) – A DEX for BEP-20 tokens on BNB
3. Flamingo (FLM) – A DeFi platform based on the Neo blockchain and the Poly Network interoperability protocol
4. LTO Network (LTO) – A privacy-aware L1 for RWA, data security, and ID solutions
5. NKN (NKN) – A network focused on creating a decentralized and open-source network protocol for public blockchain-based P2P networks
6. PlayDapp (PDA) – A platform that developed a Web3 ecosystem for users, leveraging the PlayDapp Mainnet as its foundational  infrastructure
7. Perpetual Protocol (PERP) – A DEX for futures on ETH and xDAI
8. Viberate (VIB) – A platform with the mission of connecting musicians, fans, and event organizers with a crowdsourced live music ecosystem
9. Voxies (VOXEL) – A Free-to-Play 3D RPG game
10. Wing Finance (WING) – A credit-based decentralized platform for crypto lending and cross-chain communication between DeFi projects

Tokens that have a Monitoring Tag applied exhibit higher volatility and risks compared to other projects and these tokens are closely monitored, being at risk for delisting.

All ten tokens experienced significant price drops today, following Binance’s announcement.

For instance, BSW’s price dropped by over 28% after the crypto exchange announced that it would apply the Monitoring Tag to the project, meaning that it’s at risk of being delisted.

LTO price dropped by almost 37%, NKN’s price dropped by 26%, while the other assets also experienced declines.

Binance also removed the Seed Tag from three tokens.

Tokens With Seed Tag Removed

Here are the three digital assets that had their Seed Tag removed:

1. Jupiter (JUP) – A swap aggregation engine that delivers essential liquidity infrastructure for Solana
2. Starknet (STRK) – A permissionless decentralized Validity-Rollup, operating as an L2 over Ethereum
3. Toncoin (TON) – A decentralized L1 blockchain

Binance applies the Seed Tag to newer projects that have higher volatility risks compared to other digital assets. If the exchange removed the Seed Tag from these tokens, it considers them less risky, following reviews.

In its official announcement, Binance revealed that it will continue to conduct periodic project reviews to decide if the Monitoring Tag and Seed Tag should be added or removed from the tokens.

Key Criteria of Binance Reviews

Key criteria involved in the reviews include the following:

• The team’s commitment to the project
• Level and quality of development activity
• Trading volume and project liquidity
• Stability and safety of the network against attacks
• Level of public communication, community engagement, and transparency
• Responsiveness to periodic due diligence of the exchange
• Evidence of unethical or fraudulent conduct
• New regulatory requirements
• Material or unjustified increase in token supply
• Changes to tokenomics
• Impact from changes to the ownership of the projects, or the core team members
• Community sentiments