- Binance, the world’s largest cryptocurrency exchange, has issued a delisting warning for 11 altcoins.
- As per the latest announcement, Binance has added 11 more coins under its watchlist, raising concerns in the crypto community.
- These altcoins have been tagged with a higher volatility and risk label, requiring close monitoring and regular reviews by Binance.
Binance adds 11 new altcoins to its watchlist due to high volatility and potential delisting risks, reflecting the exchange’s proactive approach toward maintaining a stable trading environment.
Increased Scrutiny on Volatile Altcoins
In its latest update, Binance announced that it has intensified its scrutiny on certain altcoins, adding 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) to its watchlist. According to Binance, these altcoins exhibit higher volatility and risk compared to others listed on the exchange.
Criteria for Delisting
Binance’s decision to place these altcoins under a watchful eye stems from its commitment to safeguarding its users. The exchange evaluates these digital assets based on several factors, including the project’s dedication, trading volume, liquidity, network stability, and the development of a robust, sustainable ecosystem. If these criteria are not met during regular reviews, the altcoins may face delisting from the platform.
User Impact and Compliance
For traders, this means engaging in transactions involving these tagged altcoins now requires passing a mandatory test every 90 days. This proactive measure ensures that users are well-informed about the risks involved. The recent updates have increased the total number of altcoins under the watchlist to over 30.
Recent Updates: Projects Removed from the Watchlist
In a related development, Binance also announced the removal of Enzyme (MLN) and Horizon (ZEN) from its watchlist, indicating their compliance with the exchange’s stringent criteria. This dual approach of adding and removing tokens from the watchlist underscores Binance’s dynamic risk management strategy.
Conclusion
Binance’s recent actions highlight its ongoing efforts to maintain a secure and stable trading environment. The exchange’s vigilant monitoring of altcoins, coupled with regular assessments, provides an added layer of protection for traders. Moving forward, Binance will continue to adapt its strategies to reflect the evolving dynamics of the cryptocurrency market.
