Binance has decided to expand the scope of the Monitoring Tag by including four new tokens.

As of October 4, 2023, Binance has updated to include the following four new tokens in the Monitoring Tag category:

• Beta Finance (BETA)
• BarnBridge (BOND)
• Waltonchain (WTC)
• NEM (XEM)

The tokens were already listed on Binance, and the update entails an assessment to determine if these tokens meet Binance’s criteria. In essence, Binance will closely monitor these tokens in the future, ensuring compliance with their set standards.

The availability of the products and services mentioned in the announcement can vary depending on the user’s location.

Tokens carrying the Monitoring Tag generally have higher volatility and associated risks compared to other tokens. Binance regularly monitors these tokens and conducts periodic reviews to ensure that they meet the listing criteria.

However, it’s crucial to note that tokens with the Monitoring Tag may face delisting if they no longer meet the listing standards.

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What Are the Criteria Evaluated by Binance Exchange During Review?

The commitment of the project team to the project is an important assessment criterion. Also the commitment and contributions of the team members to the vision of the project are decisive factors for the long-term success of the project.

• Quality and Level of Development Activity:

The quality of development activity is a fundamental factor determining the success of the project. Also the progress and technical solidity of the project are important for its long-term sustainability.

• Transaction Volume and Liquidity:

The transaction volume and liquidity of the project can reflect the interest of users and investors in the project. Additionally, a high transaction volume and liquidity can indicate that traders are effectively engaging with the project in the market.

• Network Security and Stability:

Network security is of critical importance in crypto projects. If the network of the project is resilient against attacks and works stably, so it increases its reliability.

• Network/Smart Contract Stability:

The stability of the network and smart contracts reflects the solidity of the project’s technical infrastructure. Also the correct and reliable operation of smart contracts increases user confidence.

• Level of Public Relations:

The level of public relations of the project includes interaction and communication with the community. Additionally healthy communication with the community can help expand the user base of the project and increase community support.

• Response to Periodic Status Determination Requests:

If the project responds quickly and effectively to periodic status determination requests, so it demonstrates its transparency and accountability to the community.

• Evidence of Unethical/Fraud or Negligence:

Unethical behavior, fraud, or negligence in the project can pose serious risks to the project’s reliability.

• Contribution to a Healthy and Sustainable Ecosystem:

It is important for the long-term success of projects to make a healthy and sustainable contribution to the crypto ecosystem. It is expected that the projects will cooperate with other stakeholders in the ecosystem and generally have a positive impact on the sector.

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