Binance announced that it has added five altcoins traded on the platform to its “watch” list. The altcoins in question face the risk of being delisted.

Cryptocurrency exchange Binance is making major developments regarding altcoins on its platform. The exchange recently issued a warning that 10 altcoins are high risk.

Announcing that they have created a new system, Binance stated that they will report changes and issues in the altcoin's coding system. The popular stock exchange has been in the spotlight with a new move a few days after the announcement.

Binance has added Bluzelle (BLZ), Clover Finance (CLV), SelfKey (KEY), Prosper (PROS), and Vite (VITE) to its watchlist. The list in question includes altcoins that are considered risky.

Binance has previously announced that it will remove these coins from its watchlist if it does not find them in trouble.

Binance Pushed 5 Altcoins to the Bottom

After Binance added the five mentioned altcoins to its watchlist, there was a huge drop. All five altcoins fell more than 20%.

Binance said the following about the watchlist;

“ The surveillance label is applied to tokens that are significantly more volatile and risky than other listed tokens. These tokens are closely monitored and regularly reviewed. Please note that the tokens in question no longer meet our listing criteria and are at risk of being delisted from the platform.  “

Looking at the price charts of the tokens involved, it can be seen that the price dropped within two hours of the announcement. Investors started selling out of fear of being delisted.

Binance reports that Pendle (PENDLE) and Sei (SEI) have exited the seed stage. The mentioned cryptocurrencies have successfully completed Binance’s 90-day trial period.