Binance Adds Five New Tokens to Its Monitoring Tag List, Removes Seed Tags for Two Tokens

Binance has shared its new updates aimed at boosting user security. The platform has five tokens added to its monitoring tag list.

Binance has announced new updates aimed at enhancing user security. The platform has added five tokens to its monitoring tag list.

The list includes Bluzelle (BLZ), CLV (CLV), SelfKey (KEY), Prosper (PROS), and VITE (VITE) tokens. These tokens can face Binance delisting if they fail to meet listing requirements.

Moreover, the crypto exchange has removed seed tags for the cryptocurrencies Pendle (PENDLE) and Sei (SEI). Additionally, Binance has issued risk warnings to various tokens that have undergone significant changes in their tokenomics.

These measures are taken by the crypto exchange to ensure transparency among the users. Users can look for Monitoring and Seed Tags on the corresponding Binance Spot and Binance Margin trading pages.

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Five New Tokens In Binance’s Monitoring Tag List

On October 3, 2024, Binance flagged five tokens with monitoring tags. The reason is that these five tokens are highly volatile compared to other listed tokens.

Binance is keeping a close eye on these tokens due to the risks associated with them. Also, the five tokens can face Binance delisting if they can’t meet listing standards.

Delisting crypto tokens is an attempt to protect users from investing in highly volatile tokens and promote long-term sustainable growth.

Binance stated that users must pass quizzes every 90 days on the Binance Spot /Binance Margin platforms.

They must do this to trade with tokens marked with the Monitoring Tag. It will ensure that users know the risks before trading tokens.

A token is flagged with a Monitoring Tag after considering its trading volume, stability, and evidence of unethical/fraudulent conduct.

Seed Tags Removed For Two Tokens

Seed tags are for new tokens that exhibit higher volatility and risks. Recently, Binance has removed Seed Tags from Pendle (PENDLE) and Sei (SEI) tokens.

Removing the seed tag means a token has shown stability by passing Binance’s risk assessments. However, both PENDLE and SEI experienced slippage after Binance’s announcement. The market is volatile, and market conditions are likely to fluctuate.

Users should pass quizzes every 90 days on the Binance Spot and Binance Margin platforms. Then, they can easily trade in tokens marked with Seed Tags. These quizzes ensure that users know the risks before trading these tokens.

Additional Risk Warnings From Binance

During the announcement, Binance issued some risk warnings for other tokens that have undergone significant changes in their tokenomics.

This includes tokens like Travala (AVA), Chiliz (CHZ), and Enjin Coin (ENJ). These tokens will show up on the Binance platform with warning banners.

It will help traders stay cautious regarding the changes in the token’s economic structure that could affect their investment risks. These measures are part of Binance’s goal of protecting users in a fast-evolving crypto market.

Investing in cryptocurrencies involves substantial risk. The data in this article is not intended to be investment advice. Readers must perform their own due diligence before making any investment decisions.