Binance, the leading global cryptocurrency exchange, has recently announced that 11 altcoins may be removed from its platform. This announcement comes after the implementation of “monitoring tags” on various cryptocurrencies, signaling a possible review of their listings.
Among the affected cryptocurrencies are Balancer (BAL), Cortex (CTXC), PowerPool (CVP), Convex Finance (CVX), Dock (DOCK), Kava Lend (HARD), IRISnet (IRIS), MovieBloc (MBL), Polkastarter (POLS), Status (SNT), and Sun (SUN). These cryptos have been highlighted for their volatility and additional risks compared to other digital assets in the market.
Binance explained that cryptocurrencies marked with these tags are under intensified scrutiny and will undergo regular reviews. The exchange issued the following warning: “Please be aware that tokens with the Monitoring Tag may no longer meet our listing criteria and may be removed from the platform.”
In addition, users interested in trading these tagged tokens were required to undergo periodic assessments every 90 days. These tests aim to increase awareness of the risks associated with trading these assets.
On the other hand, Binance also announced the removal of monitoring tags from two cryptocurrencies: Enzyme (MLN) and Horizen (ZEN). Enzyme, which operates as an on-chain asset management platform, saw its native token, MLN, trading at $22.21, marking an increase of nearly 30% in the past 24 hours. Meanwhile, Horizen, a privacy-focused blockchain network, saw its token ZEN trading at $7.13, with an increase of over 5% in the same period.
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