Binance Flags 10 Tokens for Delisting, Prices Plunge 10%
1min read Binance has recently added 10 tokens to its Monitoring Tag list, signaling increased scrutiny and potential delisting due to rising volatility. This move is part of a broader strategy to enhance user awareness about trading risks and to reflect a trend toward increased exchange accountability. According to Binance, tokens with the Monitoring Tag are at risk of no longer meeting the platform’s listing criteria and being delisted from the platform.
The tokens added to the Monitoring Tag list include Ardor (ARDR), Biswap (BSW), Flamingo (FLM), LTO Network (LTO), NKN (NKN), PlayDapp (PDA), Perpetual Protocol (PERP), Viberate (VIB), Voxies (VOXEL), and Wing Finance (WING). These tokens exhibit notably higher volatility and risk compared to others on the platform. Binance will closely monitor these assets, with regular reviews to evaluate their adherence to the platform’s listing criteria.
Following the announcement, the prices of the flagged altcoins experienced a sharp decline, suffering double-digit losses almost immediately. This market reaction underscores the sensitivity and investor perception surrounding Binance’s listing decisions. Such volatility serves as a cautionary reminder for traders regarding market sentiment and token reliability.
In addition to the new Monitoring Tag additions, Binance will also remove the Seed Tag from Jupiter (JUP), Starknet (STRK), and Toncoin (TON). Tokens marked with the Seed Tag are typically those in the early stages of development, lacking compliance with Binance’s comprehensive listing criteria. The removal of the Seed Tag indicates a significant shift in the status of these projects, suggesting they no longer meet the initial criteria for such a label. This change indicates that these projects may require a reassessment if they are to be relisted at a later stage.
To encourage informed trading decisions, Binance requires users trading flagged tokens to complete a risk awareness quiz every 90 days. This quiz is critical in ensuring that users understand the underlying risks associated with trading volatile assets. Additionally, Binance has pledged to display a risk warning banner for these tokens across its Spot and Margin trading platforms. Periodic reviews of tokens with the Monitoring Tag and Seed Tag will incorporate several factors including, but not limited to, the project team’s commitment, development activity, token liquidity, and community engagement. This comprehensive approach aims to maintain a safer trading environment amidst fluctuating market conditions.
Binance’s proactive measures in monitoring its token listings reflect a commitment to transparency and the protection of its users. With increasing scrutiny and the potential for delisting, traders are urged to stay informed and proactive regarding their investments in flagged assets. By promoting risk awareness and thorough assessments, Binance is paving the way for a more responsible trading landscape in the ever-evolving cryptocurrency market.
