Attention, those who want to buy! Binance adds monitoring labels to 11 coins

The well-known cryptocurrency exchange Binance announced yesterday (1st) afternoon that it has added monitoring tags (or observation tags) to 11 altcoins, which may face delisting at worst. The following coins are considered by Binance to be ineligible for listing and may pose risks to investors:

  1. Balancer ($BAL)

  2. Cortex ($CTXC)

  3. PowerPool ($CVP)

  4. Convex Finance ($CVX)

  5. Dock ($DOCK)

  6. Kava Lend ($HARD)

  7. IRISnet ($IRIS)

  8. MovieBloc ($MBL)

  9. Polka starter ($POLS)

  10. Status ($SNT)

  11. Sun ($SUN)

Among them, Sun ($SUN) is one of the DeFi projects of Justin Sun’s TRON ecosystem, and is the incentive layer and cross-chain asset dispatch center. Previously, Tron claimed that it has more than 239 million users worldwide and has processed more than 7.9 billion transactions. Justin Sun has even set a goal, hoping that Tron’s revenue will reach US$1 billion this year.

In addition, the monitoring tags of two other coins, Enzyme ($MLN) and Horizon ($ZEN), have been removed.

What is the Binance Watch Tag Token?

Binance pointed out that tokens that have been added with monitoring labels are tokens that may be more volatile and risky than other listed tokens. Binance reminds investors that trading tokens with monitoring labels is risky. These tokens no longer meet the standards when they were listed and may be delisted.

Binance will review tokens based on the following 9 factors:

  • Team commitment to the project

  • The level and quality of project advancement

  • Trading volume and liquidity

  • Protect yourself from attacks and maintain network stability and security

  • Network/Smart Contract Stability

  • Community maintenance

  • Respond proactively to Binance’s regular reviews

  • Unethical/fraudulent conduct

  • Contribution to the construction of the entire blockchain ecosystem

Most of the 11 newly monitored currencies fell

After being placed on Binance’s monitoring list, most of these 11 coins also fell. Binance’s today’s decline list shows that $DOCK, $CTXC, and $CVP all fell by more than 20%. Coins such as $HARD, $BAL, and $IRIS also fell by more than 10%. The trend of $SUN is quite special. On Binance After the announcement, it bucked the trend and rose to a high of $0.0118, but soon plummeted back to $0.01151, with an intraday decline of 0.17% as of writing.

Although being included in the monitoring list does not mean that it will definitely be removed from the shelves, if it is indeed removed from the shelves, it may plummet further. Therefore, if you currently hold a currency on the monitoring list, please be sure to do risk control and pay close attention to Binance news.

Binance also monitored and delisted Monero ($XMR)

As international regulations gradually tighten, Binance may also consider "new regulatory requirements" when reviewing tokens. In February this year, Binance announced that it would delist Monero ($XMR) and other currencies, but at that time it had not yet taken the "new regulatory requirements" into consideration (it has now been added to the original announcement).

Monero was issued as early as 2014 and is an important privacy coin project in the history of cryptocurrency development. This move triggered heated discussions among netizens and lamented "what a pity."

The top 40 in market capitalization were also sold! Binance will delist “these 4 coins,” including the historic Monero