Binance Adds Monitoring Tag to 10 Altcoins!

Binance has announced the extension of its Monitoring Tag list based on recent evaluations, while removing the Seed Tag from certain tokens.

Tokens to be Added to the Monitoring Tag List:

• Ardor (ARDR)

• Biswap (BSW)

• Flamingo (FLM)

• LTO Network (LTO)

• NKN (NKN)

• PlayDapp (PDA)

• Perpetual Protocol (PERP)

• Viberate (VIB)

• Voxies (VOXEL)

• Wing Finance (WING)

Tokens to be Removed from the Seed Tag List:

• Jupiter (JUP)

• Starknet (STRK)

• Toncoin (TON)

What is the Monitoring Tag?

Tokens with the Monitoring Tag are subject to higher volatility and risks compared to other listed assets, which is why they are closely monitored by Binance. These tokens undergo regular reviews, and if they fail to meet the established criteria, they risk being delisted from the platform.

To trade tokens with the Monitoring Tag or Seed Tag, Binance users must pass a mandatory quiz every 90 days and accept the Terms of Use. This process is designed to ensure investors are aware of the associated risks. Tokens with these tags will be visible on Binance Spot and Margin platforms under the Market Overview and relevant trading pages. Additionally, a risk warning banner will be displayed for all tokens with the Monitoring and Seed Tags.

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Binance’s Review Process

Binance makes decisions regarding the addition or removal of Monitoring and Seed Tags after conducting regular evaluations. Factors considered during the review include:

• The commitment and development efforts of the project team

• The level and quality of technical development activities

• Trading volume and market liquidity

• Network security and resilience against attacks

• Community engagement, transparency, and communication levels

• Compliance with regulatory requirements

• Significant changes in project management or team members

• Sudden and unexplained changes in token supply

Binance also states that it will continue to share updates regarding the addition or removal of the Monitoring and Seed Tags based on future market developments.

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Binance Places GoPlus Security (GPS) Under Monitoring Tag

Binance has announced that it has placed GoPlus Security (GPS) under its Monitoring Tag due to significant price volatility and concerns regarding the trading activities of certain market makers. The exchange warned investors about the high-risk nature of GPS and advised them to proceed with caution.

According to Binance, following the listing of GPS for spot trading, a designated market maker sold approximately 70 million GPS tokens without executing any buy orders. This continuous sell-off resulted in a profit of 5 million USDT for the market maker. Finding these transactions suspicious, Binance temporarily suspended the market maker’s account and launched a thorough investigation.

The Monitoring Tag applies to tokens considered riskier and more volatile than other crypto assets. Binance stated that these tokens are regularly reviewed and may be delisted if they fail to meet the platform’s criteria. Additionally, users must complete a risk awareness test every 90 days to continue trading assets under this category.

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GoPlus Security experienced a sharp decline in value after its listing, and Binance’s latest announcement led to further price drops. The exchange reassured users that it will continue monitoring GPS and other tagged tokens closely, taking necessary actions to maintain market integrity.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Binance Added This Altcoin to Its Watchlist! appeared first on Coin Engineer.

What Is the Monitoring Tag?

The Monitoring Tag is a label system used to classify projects on the Binance platform. Compared to the Seed Tag, the Monitoring Tag is given to more established and developed projects. Seed Tag projects are usually in the development phase and carry higher risks.

Projects with a Monitoring Tag generally have a functioning product and a certain user base. However, it is important to note that these projects may still face risks such as legal issues, regulatory challenges, technological difficulties, and market volatility.

How Are Monitoring Tag Projects Selected?

To ensure the sustainability of the crypto ecosystem, Binance conducts periodic reviews to assess which projects should receive the Monitoring Tag. The main criteria considered in this evaluation process are:

• Project Team Commitment: The dedication of the project team and the quality of their work.
• Development Activities: Progress in the development stages and updates made to the project.
• Trading Volume and Liquidity: The project’s market trading volume and liquidity.
• Network Security: The project’s resilience against attacks.
• Public Communication: How effectively the project communicates with the community.
• Ethical Standards: Ensuring the project team does not engage in unethical or fraudulent activities.

Why Is the Monitoring Tag Important?

The Monitoring Tag serves as a guide for users, especially those investing in newly created or newly listed crypto projects. While this label indicates that the projects are more established and reliable, investors are reminded to always conduct their own research.

Additionally, following projects listed with the Monitoring Tag on Binance makes it easier to identify coins that may be delisted in the future. Binance closely monitors projects with a Monitoring Tag, and if they fail to meet the criteria, they risk being delisted.

Through this system, Binance aims to provide its users with a secure investment environment while supporting a transparent and sustainable crypto ecosystem.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Find Coins That May Be Delisted Early: What Is Binance Monitoring Tag? appeared first on Coin Engineer.