Binance Flags Five Cryptocurrencies for Monitoring, Raising Delisting Concerns

Binance recently announced the "Monitoring Tag" designation for 5 cryptocurrencies, indicating increased risk. The tag signals the potential delisting of these coins. The affected tokens are: Ellipsis (EPX), ForTube (FOR), Unfi Protocol DAO (UNFI), Waves (WAVES), and Wrapped NXM (WNXM). Binance has previously introduced the "Seed Tag" and "Monitoring Tag" to warn users of potential risks associated with trading certain tokens.

Binance Flags Five Cryptocurrencies for Monitoring, Raises Delisting Concerns

Binance, the world's largest cryptocurrency exchange, recently announced the designation of "Monitoring" tags for five cryptocurrencies, raising concerns regarding their potential delisting from the platform. The tagged assets are:

• Ellipsis (EPX)
• ForTube (FOR)
• Unfi Protocol DAO (UNFI)
• Waves (WAVES)
• Wrapped NXM (WNXM)

This development emerged after Binance introduced new "Seed Tag" and "Monitoring Tag" categories on October 4, 2023, to alert users to potential risks associated with trading certain crypto tokens.

The "Monitoring Tag" is specifically applied to tokens that exhibit heightened volatility and risk levels compared to other newly listed assets. In addition to the aforementioned five, the list of tokens carrying this tag includes: Akropolis (AKRO), AirDAO (AMB), Ark (ARK), BarnBridge (BOND), Beta Finance (BETA), Bitshares (BTS), Cream Finance (CREAM), aelf (ELF), FTX Token (FTT), Gifto (GFT), JasmyCoin (JASMY), Linear (LINA), Loom Network (LOOM), Enzyme (MLN), NEM (XEM), openANX (OAX), OmiseGO (OMG), Ooki Protocol (OOKI), PERL.eco (PERL), Ren (REN), Sonm (SNM), Serum (SRM), Tornado Cash (TORN), Voyager (VGX), Walton Chain (WTC), WazirX (WRX), DFI.Money (YFII), Firo (FIRO), Keep3rV1 (KP3R), Mdex (MDX), Reef (REEF), Zcash (ZEC), Horizen (ZEN).

Binance previously delisted seven coins under this categorization in February and March 2023: DREP (DREP), Mobilecoin (MOB), pNetwork (PNT), Aragon (ANT), Multichain (MULTI), Vai (VAI), and Monero (XMR).

The tagging and delisting of cryptocurrencies by Binance aim to protect its users from potential risks and promote responsible trading practices within the ecosystem. The exchange continuously monitors and reviews the listed assets to ensure compliance with its standards and the evolving regulatory landscape.

Traders and investors are advised to exercise due diligence and remain informed about the potential risks associated with trading in cryptocurrencies. They should carefully consider the volatility, liquidity, and underlying fundamentals of each asset before making investment decisions.