Last minute, the leading cryptocurrency exchange #Binance announced that 11 crypto assets will be delisted. Binance announced plans to expand the tracking Tag to 11 tokens. This left them at risk of being delisted in the future.

Meanwhile, affected tokens include Balancer (BAL) and Cortex (CTXC), while Enzyme (MLN) and Horizon (ZEN) will be removed from the risk list. Many market observers see this development as a signal of potential price volatility for the affected tokens.

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Binance Adds Tracking Label to 11 Token

As of July 1, the exchange will add several tokens to the Watch Tag list, including Balancer (BAL), Cortex (CTXC), and Convex Finance (CVX).

Meanwhile, according to the announcement, tokens with this label are considered high risk and are closely monitored for volatility and compliance with Binance's listing criteria. The newly added tokens to the Tracking Tag list are: 

  • Swing ( $BAL )

  • Cortex ( $CTXC )

  • PowerPool (CVP)

  • Convex Finance (CVX)

  • Dock (DOCK)

  • Kava Lend (HARD)

  • IRISnet (IRIS)

  • MovieBloc (MBL)

  • Polka starter (POLS)

  • Status (SNT)

  • Call ( $SUN )

Binance shared the announcement as follows: This is a general announcement. The products and services mentioned here may not be available in your region.

Dear Binance users,

Based on recent reviews, Binance will expand the Tracking Tag to include more tokens on 01.07.2024.

In contrast, Enzyme (MLN) and Horizon (ZEN) will be removed from the Monitoring Tag list. This change indicates a re-evaluation of the risks and stability associated with these tokens. However, Binance's decision to tag these 11 tokens highlights their increased volatility and the potential for them to fail to meet the platform's listing criteria in the future.

What is the Binance Tracking Label?

Meanwhile, according to Binance, the Watch Tag serves as a warning that listed tokens are under review and may face delisting if they do not meet certain standards. These standards include project commitment, development activity, trade volume, network stability, public communication, and ethical behavior.

Binance emphasizes that the Tracking Tag aims to maintain a healthy and sustainable cryptocurrency ecosystem.

Conclusion

As a result, Binance is implementing various services to achieve a clean ecosystem. Binance Monitoring Tag comes into play as an important service in terms of the performance and future of the projects. 

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