Binance Extends Monitoring Tag for BLZ, CLV, KEY, PROS and VITE, Removes Seed Tag for PENDLE and SEI

Key Points

• Binance adds 5 tokens to the Monitoring Tag list and removes the Seed Tag of 2 tokens.
• The exchange conducts periodic reviews of tokens marked with these tags.

In an official announcement, Binance revealed that it will extend the Monitoring Tag list for more tokens, while removing the Seed Tag for other coins today, October 3.

Tokens Added to the Monitoring Tag List

• Bluzelle (BLZ)
• CLV (CLV)
• SelfKey (KEY)
• Prosper (PROS)
• VITE (VITE)

1. Bluzelle (BLZ)

Today, BLZ experienced a price drop of almost 10% following Binance’s announcement, following a price spike earlier. The coin was trading close to $0.13 ahead of its price drop to $0.11.

Bluzelle is a decentralized storage network for the creator economy.

2. CLV (CLV)

CLV’s price also dropped after Binance’s announcement. The token was trading above $0.04 and its price fell to $0.37, down by 18% after being added by the exchange to the Monitoring Tag list.

Clover Finance (CLV) is a blockchain operating system that provides an easy blockchain infrastructure and an ETH Virtual Machine compatible framework for Substrate-based apps.

3. SelfKey (KEY)

The KEY token also recorded a price drop of around 16% following the exchange’s announcement earlier today. The token was trading above $0.0044 and its price fell close to $0.0041.

4. Prosper (PROS)

PROS also saw a significant price drop of 14%. While the coin was trading above $0.42 earlier, its price dropped to $0.24 following the announcement, ahead of a quick bounce close to $0.36.

Prosper is bridging institutional-grade Bitcoin mining power on-chain and aims to unlock the potential of the digital asset fully.

5. VITE (VITE)

VITE recorded the most significant price drop of the five tokens that have been added by Binance to the Monitoring Tag list. The token’s price fell by almost 28%, from almost $0.02 to current levels of $0.01.

Vite built a Directed Acyclic Graph (DAG) based smart contract platform with a Snapshot Chain structure to facilitate transactions with zero fees and optimize transaction speed, reliability, and security.

Tokens with the Monitoring Tag applied by Binance have notably higher volatility and risks compared to other listed coins.

These tokens are closely monitored by the exchange with regular reviews conducted. These coins are at risk of no longer meeting the listing criteria of the exchange and being delisted from the platform.

Tokens To Be Removed From the Seed Tag List

• Pendle (PENDLE)
• Sei (SEI)

Pendle (PENDLE)

PENDLE’s price recently saw a drop in price of around 3%. The coin was trading close to $3.38, and its price dropped to $3.77.

Pendle is a protocol that enables the tokenization and trading of future yields, offering users more control over future yields by providing optionality and opportunities for its utilization.

Sei (SEI)

SEI’s price also saw a slight decline from close to $0.42 to $0.41. On the other hand, SEI saw a more notable price drop on October 2 from levels close to $0.45 to $0.40 ahead of a reversal. Overall, in the past 24 hours, SEI recorded a 13% price drop.

Sei is the first sector-specific L1 blockchain, specialized to enhance the functionality and performance of DEXes.

According to Binance, tokens with the Seed Tag applied are new and innovative projects that might show higher volatility and risks compared to other tokens.

The fact that the exchange removed the Seed Tag from SEI and PENDLE means that the exchange doesn’t consider them high-risk anymore.

SEI’s latest achievements made the token worth watching at the end of Q4 2024. Pendle has been also showing promising moves for the future.

On October 1, the team at Pendle announced that SolvBTC.BBN is live on Pendle and BTCfi will expand across and beyond Ethereum. SolvBTC.BBN is a liquid staking token for Bitcoin.