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.

Where is Bitcoin Headed?

Trending Coins

Upcoming Events

Bitcoin Liquidation Map

Bitcoin Liquidation Map, 12 Hours

The post Latest on Bitcoin and Cryptocurrencies – 10 October appeared first on Coin Engineer.

Tron Network Gains Traction After Solana

Following Solana’s success with thousands of meme coins launched since the beginning of the year, Tron is becoming another hotbed for these digital assets. Solana’s ecosystem saw the rise of meme coin creation apps like “pumpfun,” attracting considerable attention from the crypto community.

Justin Sun Recognizes the Meme Coin Trend

The trend is now making its way to the Tron network, with the creation of a meme coin platform called Sun.io, named after Justin Sun, the network’s founder. This platform has its native token, SUN. In a recent statement, Justin Sun revealed that revenues from the protocol would be used to buy SUN tokens, which would then be burned to reduce the total supply.

104x Gains in Just 7 Hours

Although the meme coin frenzy on Tron hasn’t yet reached the fever pitch seen on Solana, interest is steadily growing. One user, in particular, managed to turn a $650 investment into $68,000 within 7 hours, marking a staggering 104x return.

According to data shared by Lookonchain, this user spent 5,000 TRX, worth approximately $650, to buy 6.8 million SUNDOG tokens, a meme coin on the Tron network. Just 7 hours later, they began selling, exchanging 4.5 million SUNDOG tokens for 522,000 TRX. This trade turned their initial 5,000 TRX into 522,000 TRX.

The user still holds 2.2 million SUNDOG tokens, with an unrealized value of around $76,000, highlighting the lucrative potential of meme coins on the Tron network.

The post After Solana, Tron Meme Coins Emerge: 104x Gains in Just 7 Hours appeared first on Coin Engineer.

USDC distributor Circle denied allegations of illegal financing and connections with Justin Sun in an open letter published on its blog site. A non-profit observer group had previously accused Circle of having ties with Sun.

The post was published on November 11 and changed on November 30. The letter was addressed to US Senators Elizabeth Warren and Sherrod Brown. It was signed by Circle’s Chief Strategy Officer and Head of Public Policy, Dante Disparte.

In the letter, Disparte claims that Circle was recently made aware of the “false” allegations made about him by the “so-called Responsibility Campaign”. The letter also adds:

“Circle does not directly or indirectly facilitate or finance Hamas (or other illegal actors).”

Disparte also denied that he was “banking” for Sun or providing financial services to him.

Disparte denied allegations that Circle facilitated a “large flow of funds to Hamas or Hezbollah.” He claims instead that these accusations are based on unverified, unverified posts on social media. The letter states that “only $160 in USDC was transferred between [illegal wallets]”, and that “none of these were received from Circle”.

Disparte also claimed that Circle had stopped serving Sun in February 2023, saying:

Neither Mr. Sun nor any organization owned or controlled by Mr. Sun (including the TRON Foundation or Huobi Global) currently has an account at Circle. To date, the US government has not specifically appointed Mr. Sun or his organizations as Specially Designated Nationals. However, Circle terminated all accounts owned by Mr. Sun and his affiliated companies in February 2023.

The open letter from Circle appears to have been sent in response to a letter dated November 9 from the non-profit ethics group Campaign for Accountability. This letter claimed that Circle has extensive ties with Sun’s Tron Foundation and leading Wall Street investors and that Sun has cross-chain connections. SunSwap protocol is often used for money laundering purposes.

You may be interested: Binance Will List These Coins on Margin!

Claims of cryptocurrency being used to finance terrorism have proliferated since the beginning of the Israel-Hamas war. On October 10, The Wall Street Journal reported that over $130 million in cryptocurrency had been donated to terrorist organizations. The media organization later corrected the story, indicating instead that $12 million in cryptocurrency “may have been sent” to these organizations.

The post USDC Distributor Circle Denies Relationship with Justin Sun appeared first on Coin Engineer.