Binance Marks Crypto Tokens With High Volatility As Monitoring

Several very volatile cryptocurrency assets have been assigned monitoring tags by Binance, a global crypto exchange, according to an announcement made on Monday.

As per the official notification, eleven alternative cryptocurrencies were tagged for surveillance. These cryptocurrencies include Balancer (BAL), Cortex (CTXC), PowerPool (CVP), Sun (SUN), and Dock (DOCK). The coins' extreme volatility in comparison to other listed cryptocurrencies was a point raised by the exchange.

The tokens are being thoroughly watched and reviewed on a regular basis, according to Binance.

When a cryptocurrency project has a functioning product and a certain level of user acceptance, they are often awarded these tags. On the other hand, there are dangers associated with these assets, such as possible problems with regulations and the law, difficulties with technology, unpredictable market conditions, etc.

Additionally, the company cautioned users that digital assets with this identifier are very vulnerable. The platform is delisting them because "[they] are no longer meeting our listing criteria," the statement said.

"Binance will review projects on a regular basis and determine whether tokens should have the monitoring tag added or removed based on its latest findings."

Token Exemption Requirements for Monitoring Tags
Additionally, the exchange outlined assessment requirements for crypto tokens. The document made notice of the fact that project-committed tokens would not be subject to monitoring tags.


The tokens also need to demonstrate a certain amount of development activity, a certain degree of liquidity and trading volume, stability against scam attacks, and proof of not engaging in fraudulent activities, among other things.

Binance has deleted the tags from two cryptocurrencies, Enzyme (MLN) and Horizon (ZEN), in addition to the tokens that were placed to the monitoring tags list.

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