Binance Adds New Coins to Monitoring List Amidst Increased Volatility and Risks, Delays Launch of USDC-Margined Perpetual Contracts

Binance Adds New Coins to Monitoring List Amidst Increased Volatility and Risks, Delays Launch of USDC-Margined Perpetual Contracts

Crypto News – Binance, the leading cryptocurrency exchange, has recently announced the addition of a range of new coins and tokens to its ‘Monitoring Tag‘ list. This update includes a diverse set of assets such as ANT, FIRO, KP3R, MDX, MOB, REEF, VAI, XMR, ZEC, and ZEN. The decision for this inclusion is primarily due to the heightened volatility and risk factors these tokens have demonstrated, setting them apart from their counterparts.

The ‘Monitoring Tag‘ is essentially a red flag, indicating that these tokens are under close scrutiny for potential delisting from the platform if they fail to meet Binance’s stringent listing criteria. This label is assigned to tokens that show significantly higher levels of volatility and risk compared to others on the exchange.

Binance has clarified that these tagged tokens will undergo regular, detailed reviews. The removal of the ‘Monitoring Tag‘ will depend on various factors evaluated during these reviews. Criteria such as the project team’s dedication, the quality and extent of ongoing development activities, the trading volume and liquidity, and the network’s susceptibility to security threats will be crucial in these assessments.

Moreover, Binance will consider factors like the stability of a network’s smart contracts, the frequency and quality of public communications, responses to due diligence inquiries, evidence of unethical or fraudulent activities, negligence, and the overall contribution of the token to a robust and sustainable cryptocurrency ecosystem.

New Trading Quizzes for ‘Monitoring Tag’ Tokens on Binance, Positive Status Update for GMX and SushiSwap, and Delay in Launch of USDC-Margined Contracts

For crypto traders, this development introduces a new layer of engagement. Trading of tokens under the ‘Monitoring Tag’ will now require passing specific quizzes. These quizzes aim to ensure traders are aware of the risks involved and will be held in 90 days on both Binance Spot and Binance Margin platforms.

In a notable shift, Binance has also removed the ‘Seed Tag’ from two cryptocurrencies, GMX (GMX) and SushiSwap (SUSHI), signifying a positive change in their status.

In related updates, Binance has postponed the introduction of USDC-margined perpetual contracts for several major digital assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), BNB, and XRP. Originally set to launch on January 3, the new schedule now sets the launch for January 4. This delay is attributed to the recent fluctuations and instability in the market, underlining Binance’s cautious approach in these volatile times.