Binance, the world's largest cryptocurrency exchange by volume, placed numerous digital assets under scrutiny, including FTX Token (FTT), ZCash (ZEC), and JasmyCoin (JASMY).
Binance, the world’s largest cryptocurrency exchange by volume, has placed several digital assets under its watchful eye, including FTX Token (FTT), ZCash (ZEC), and JasmyCoin (JASMY). This could indicate that these altcoins carry higher investment risk, and the exchange may consider delisting them in the future.
Binance uses a “Monitoring Tag” for all altcoins that are under scrutiny. The exchange claims that these cryptocurrencies usually “have much higher volatility and risks compared to other listed tokens.” Hence, the platform uses the monitoring tag to protect investors from these altcoins’ increased volatility.
Binance states that it performs regular reviews of these digital assets, and if they fail to meet the exchange’s standards, they may face delisting. The exchange updates the list of these altcoins in the first week of every quarter after considering the digital asset’s community, price action, and other factors.
The total market capitalization of tokens under Binance’s monitoring is a massive $4.32 billion, with a total trading volume of $651.20 million. However, Binance has not disclosed its criteria for delisting, which has raised concerns regarding the exchange’s fairness.
A Closer Look at Tokens Under Monitoring
JASMY is one of the most volatile digital assets in the market, having crashed 99.57% from its all-time high of $4.99 set four years ago. Now trading at $0.02138 and down 4% in the past 24 hours, the cryptocurrency has surged 312.03% in the past year. With such significant ups and downs, it’s no wonder JASMY is on the monitoring list.
Also on the monitoring list is FTT, a digital asset that reached a ATH of $85.02 at the peak of its popularity. Now, the cryptocurrency is trading at $2.22, down 97.41% from its all-time high. ZEC, aelf (ELF), Convex Finance (CVX), and other tokens on the monitoring list have experienced similar drastic changes in their prices.
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