Binance Updates Monitoring Tag for Multiple Tokens Including BAL, CTXC, and CVX

Binance,
one
of
the
world’s
leading
cryptocurrency
exchanges,
has
announced
an
update
to
its
Monitoring
Tag
list.
Effective
July
1,
2024,
the
platform
will
extend
the
Monitoring
Tag
to
include
eleven
new
tokens
and
remove
it
from
two
existing
tokens,
according
to

Binance.

Tokens
Added
to
the
Monitoring
Tag

The
tokens
to
be
added
to
the
Monitoring
Tag
list
are:

• Balancer
  (BAL)
• Cortex
  (CTXC)
• PowerPool
  (CVP)
• Convex
  Finance
  (CVX)
• Dock
  (DOCK)
• Kava
  Lend
  (HARD)
• IRISnet
  (IRIS)
• MovieBloc
  (MBL)
• Polkastarter
  (POLS)
• Status
  (SNT)
• Sun
  Token
  (SUN)

Tokens
Removed
from
the
Monitoring
Tag

The
tokens
that
will
have
the
Monitoring
Tag
removed
are:

• Enzyme
  (MLN)
• Horizen
  (ZEN)

Tokens
with
the
Monitoring
Tag
exhibit
notably
higher
volatility
and
risks
compared
to
other
listed
tokens.
These
tokens
are
closely
monitored,
with
regular
reviews
conducted.
Keep
in
mind
that
tokens
with
the
Monitoring
Tag
are
at
risk
of
no
longer
meeting
Binance’s
listing
criteria
and
being
delisted
from
the
platform.

User
Requirements

To
gain
trading
access
to
tokens
marked
with
the
Monitoring
Tag,
users
will
need
to
pass
a
quiz
every
90
days
on
the
Binance
Spot
and/or
Binance
Margin
platforms,
and
accept
the

Terms
of
Use.
The
quizzes
are
set
up
to
ensure
users
are
aware
of
the
risks
before
trading
tokens
with
the
Monitoring
Tag.
Users
may
find
the
Monitoring
Tags
on
the
corresponding
Binance
Spot
and
Binance
Margin
trading
pages,
as
well
as
on
the

Markets
Overview
page.
A
risk
warning
banner
will
also
be
displayed
for
all
tokens
with
the
Monitoring
Tags.

Review
Criteria

Binance
will
conduct
periodic
project
reviews
and
decide
if
the
Monitoring
Tag
should
be
added
to
or
removed
from
tokens
based
on
the
latest
findings.
The
criteria
considered
during
reviews
include:

• Commitment
  of
  team
  to
  project
• Level
  and
  quality
  of
  development
  activity
• Trading
  volume
  and
  liquidity
• Stability
  and
  safety
  of
  network
  from
  attacks
• Network/smart
  contract
  stability
• Level
  of
  public
  communication
• Responsiveness
  to
  periodic
  due
  diligence
  requests
• Evidence
  of
  unethical/fraudulent
  conduct
  or
  negligence
• Contribution
  to
  a
  healthy
  and
  sustainable
  crypto
  ecosystem

Additional
Notes

• Other
  services
  related
  to
  the
  aforementioned
  tokens
  will
  not
  be
  affected.
• The
  Monitoring
  Tags
  for
  the
  aforementioned
  tokens
  will
  be
  updated
  shortly
  after
  the
  publishing
  of
  this
  announcement.
• There
  may
  be
  discrepancies
  in
  the
  translated
  version
  of
  this
  original
  article
  in
  English.
  Please
  reference
  the
  original
  version
  for
  the
  latest
  or
  most
  accurate
  information
  where
  any
  discrepancies
  may
  arise.

Binance’s
update
to
the
Monitoring
Tag
list
is
part
of
its
ongoing
efforts
to
promote
transparency
and
long-term,
sustainable
growth
within
the
cryptocurrency
ecosystem.

Image
source:
Shutterstock