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Binance Extends Monitoring Tag For Volatile Tokens, Includes BLZ, CLV Among Others

Binance has added Bluzelle (BLZ), CLV (CLV), SelfKey (KEY), Prosper (PROS), and VITE (VITE) tokens to its list of Monitoring Tag. These tokens now run a chance of getting delisted from the crypto exchange.

By Nausheen Thusoo
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Binance Will Extend the Monitoring Tag

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Nausheen Thusoo
Nausheen Thusoo
Nausheen has three years of devoted experience covering business and finance. She is aware of the constantly changing financial landscape, especially in the rapidly growing cryptocurrency space. Her ability to simplify difficult financial ideas into understandable stories and her analytical thinking make her articles valuable for both novice and experienced readers.She has written about a wide range of subjects, including investing methods, market trends, and regulatory changes pertaining to the cryptocurrency industry. She has worked with Reuter, Coingape and Bankless times. Nausheen blends a talent for narrative with meticulous research skills. She is also skilled at establishing connections with business leaders so they can offer unique perspectives and interviews that enhance their reporting

Binance has extended its list of tokens under its “Monitoring Tag” that have exhibited rather volatile trading in the past couple of trading sessions. On October 3rd, the new coins added to this list were Bluzelle (BLZ), CLV (CLV), SelfKey (KEY), Prosper (PROS), and VITE (VITE).

When compared to other listed tokens, coins bearing the Monitoring Tag show noticeably greater volatility and hazards. These tokens are regularly reviewed and are subject to close observation.

Tokens bearing the “Monitoring Tag” also run the risk of being removed from the platform and delisted if they no longer satisfy Binance’s listing requirements.

Binance keeps heightened security and scrutiny for the Monitor tag token. Users who want to trade and access these tokens must accept the terms of use and pass the associated quizzes on the Binance Spot and/or Binance Margin platforms every ninety days to trade the tokens designated with the Seed Tag or Monitoring Tag.

Binanace holds these quizzes to make sure users understand the risks involved in trading tokens with the Monitoring Tag or Seed Tag before doing so. All tokens bearing the Monitoring and Seed tags additionally have a risk warning banner displayed.

Binance Removes Seed Tag for PENDLE & SEI

Apart from adding new tokens to the Monitoring list, Binance also removed the Seed Tag for PENDLE and SEI tokens.

Tokens bearing the Seed Tag are usually associated with past volatile trade but must have shown rather stable trading in the recent present. Despite this, the Seed tag still indicates that the tokens bear fresh, creative ideas that might be riskier and more volatile than other tokens.

Tokens Take On a Potential Binance Delisting Risk

Soon after the announcement, the altcoins that have been added in the Monitoring tag list took a price plunge as traders grew worry some about the future of these tokens.

Both CLV and KEY fell over 22% while PROS fell over 17%. VITE took a blood bath after falling over 28% and being the worst performed among these five tokens. The only coin that held its ground was BLZ which was up 5% despite the negative news.

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