Tokens to Be Added to the Monitoring Tag:

• StormX (STMX): Known for micro-tasks and shopping rewards in the crypto world, STMX is being added to the Monitoring Tag list due to its volatility and risk factors.
• TROY (TROY): Offering advanced broker solutions, TROY will also be included in the Monitoring Tag list.

Tokens to Be Removed from the Monitoring Tag:

• Convex Finance (CVX): Renowned for its staking solutions for DeFi users, CVX will no longer carry the Monitoring Tag.
• Sun (SUN): Part of the TRON ecosystem, SUN has met Binance’s criteria and will be removed from the Monitoring Tag list.

Tokens to Be Removed from the Seed Tag:

• Arkham (ARKM): A pioneer in crypto intelligence, ARKM will no longer carry the early-stage Seed Tag.
• Blur (BLUR): The token of the NFT trading-focused Blur platform has advanced beyond the early stage, leading to the removal of its Seed Tag.
• Jito (JTO): Known for its liquidity solutions in the Solana ecosystem, JTO’s Seed Tag will also be removed.
• Celestia (TIA): With its modular blockchain infrastructure, TIA has progressed significantly and will no longer carry the Seed Tag.

Why Are Monitoring and Seed Tags Important?

Monitoring Tag: Tokens with this tag exhibit higher volatility and risk compared to others. Binance reviews these projects periodically and may delist tokens that fail to meet specific criteria.

Seed Tag: This tag highlights projects that are still in the early stages, signaling that investors should trade with this awareness. The removal of a Seed Tag indicates that the project has reached a significant milestone in its development.

Binance’s Evaluation Criteria

Binance makes tagging decisions based on the following criteria:

1. Team Commitment: The level of dedication the team shows toward the project.
2. Development Activity: The quality and volume of development work on the project.
3. Liquidity and Trading Volume: The token’s market liquidity and trading activity.
4. Security: The network’s resilience against attacks and the reliability of smart contracts.
5. Communication and Transparency: The project’s engagement and communication with the community.
6. Ethical Standards: The absence of unethical behavior or misconduct.
7. Ecosystem Contribution: The project’s contribution to the broader crypto ecosystem.

Users who wish to trade tokens with Monitoring Tags or Seed Tags must complete a risk awareness quiz every 90 days on Binance Spot or Margin platforms. This quiz ensures traders understand the risks associated with these tokens before making trades.

Through these updates, Binance aims to promote transparency, trust, and long-term sustainability in the 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 Binance Added These Coins to the Monitoring List! Major Drop Followed! appeared first on Coin Engineer.

Check Out: Today’s Most Popular Altcoins in the Crypto Market – Gainers and Losers

This change includes 10 different cryptocurrencies such as Apecoin (APE), ARPA (ARPA), Beta Finance (BETA), Convex Finance (CVX), Ethereum Name Services (ENS), Eos (EOS), Ethereum Classic (ETC), Kava (KAVA), and Pax Gold (PAXG).

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According to Binance’s announcement, trading pairs APE/BNB, APE/EUR, ARPA/ETH, BETA/ETH, CVX/BTC, ENS/BNB, EOS/EUR, ETC/EUR, KAVA/BNB, and PAXG/BNB will be removed from spot trading and trading will be halted on December 29 at 05:00 (Turkey time). It was also mentioned that with this change, trading bots related to the same trading pairs will be shut down.

However, Binance stated that users can continue to trade on the platform using other trading pairs available for these assets. This means that users can maintain flexibility in managing their portfolios and making trades. The cryptocurrency market is constantly changing, and exchanges may make changes to their portfolios from time to time to provide the best service to users.

Also, you can 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 Delists Trading Pairs of These Altcoins! appeared first on Coin Engineer.