Binance Adds 10 Altcoins to Watchlist, Flags Potential Delisting
Binance Expands Watchlist, Signalling Potential Delisting for 10 Altcoins
In a significant move, Binance, one of the world’s largest cryptocurrency exchanges, is poised to expand its watchlist by incorporating 10 additional altcoins: Aragon (ANT), Firo (FIRO), Keep3rV1 (KP3R), Mdex (MDX), MobileCoin (MOB), Reef (REEF), Vai (VAI), Monero (XMR), Zcash (ZEC), and Horizen (ZEN). This move amplifies the watchlist from 23 to 33 altcoins, marking a significant expansion of almost 43%.
The Implications of the Watchlist
The watchlist on Binance is an instrument designed to monitor altcoins that display higher volatility and risk and fail to meet the strict listing criteria set by the platform. The inclusion of a coin on this list does not automatically signify imminent delisting, but it does indicate that the coin is under heightened scrutiny. It serves as a warning to users to exercise caution while dealing with these altcoins.
Removal from the Seed Label List
Alongside this expansion, Binance also disclosed that two altcoins, specifically GMX (GMX) and SushiSwap (SUSHI), will be extracted from the Seed Label list. This list is dedicated to novel and pioneering projects that, despite their potential for innovation, also carry higher volatility and risk. The removal of these two altcoins could be an indication of decreased faith in their stability or future prospects.
Regular Reviews and User Tests
Users who choose to trade altcoins carrying the Watch Label or Seed Label are required to pass tests every 90 days. These tests confirm their comprehension of the associated risks and oblige them to accept the Terms of Use on Binance Spot and/or Binance Margin platforms. Binance conducts regular reviews of listed altcoin projects to decide on the application or removal of these labels. These decisions hinge on various criteria, including team commitment, development activity, trading volume, network security, and ethical conduct.