Binance, the world’s largest cryptocurrency exchange, is considering delisting five altcoins: Bluzelle (BLZ), CLV (CLV), SelfKey (KEY), Prosper (PROS), and VITE (VITE). This potential action comes after they were added to Binance’s Monitoring Tag list, highlighting concerns about these coins' volatility and risks.
The Monitoring Tag indicates that a token may no longer meet Binance’s listing criteria, including factors like project commitment, development, trading volume, and network stability. Tokens flagged under this system are prone to being delisted if they fail to comply with Binance’s standards.
The announcement resulted in a significant decline in the prices of these altcoins, with VITE experiencing the most severe drop of nearly 25%. Following this, PROS and CLV saw their values decrease by approximately 15%, while KEY and BLZ showed some resilience with lesser declines.
In contrast, Binance has removed the Seed Tag from Pendle and Sei, indicating that these altcoins have become more stable and are now considered less risky. The Seed Tag usually denotes new projects associated with higher risks and volatility.
Binance mandates that users interacting with tokens under either the Monitoring or Seed Tags must engage in quizzes every 90 days to ensure they understand the associated risks. This practice aligns with Binance’s focus on maintaining a responsible trading environment.
