Binance, the largest crypto exchange in the world, has flagged five altcoins for possible delisting. This comes after they added Bluzelle (BLZ), CLV (CLV), SelfKey (KEY), Prosper (PROS), and VITE (VITE) to their Monitoring Tag list. Why? Because of rising volatility and risks.
The Monitoring Tag is Binance’s way of highlighting tokens that might not meet their strict listing standards anymore. They look at many factors. This includes the commitment of the team behind the project, the quality and amount of development activity, trading volume, and liquidity. They also check the network's stability and safety, along with how responsive the project is to Binance’s regular checks.
Binance warns, “Tokens with the Monitoring Tag are at risk of not meeting our listing criteria and may be delisted from the platform.” This alert caused a sharp drop in the prices of these altcoins. VITE took the biggest hit, falling nearly 25%. PROS and CLV saw drops of 15.74% and 15.22%, respectively.
However, not all tokens reacted the same way. KEY and BLZ showed some strength. Initially, KEY’s price dipped by 9%, but it later bounced back, now showing a decrease of 7.35%. BLZ also dropped quickly by 12%, but it has mostly recovered, currently down by just 4.54%.
On a different note, Binance has removed the Seed Tag from two altcoins, Pendle (PENDLE) and Sei (SEI). This change signals that these tokens have stabilized and are now seen as less risky. The Seed Tag usually marks newer projects that tend to be more volatile and carry higher risks.
For users dealing with tokens under either the Monitoring Tag or Seed Tag, Binance requires them to complete specific quizzes every 90 days. These quizzes help ensure that traders are fully aware of the risks involved with these tokens.