Binance, a prominent cryptocurrency exchange, has revealed plans to extend its watchlist for potential altcoin delisting. The platform will introduce 10 new altcoins to this watchlist, while also removing 2 altcoins from the Seed Label list. Get acquainted with the details of these changes and the respective altcoins involved.
Ten New Altcoins to be Added to the Watchlist
Binance is gearing up to broaden its watchlist with the inclusion of 10 new altcoins. The cryptocurrency exchange has disclosed that Aragon (ANT), Firo (FIRO), Keep3rV1 (KP3R), Mdex (MDX), MobileCoin (MOB), Reef (REEF), Vai (VAI), Monero (XMR), Zcash (ZEC), and Horizen (ZEN) will be joining the watchlist.
Presently, Binance’s watchlist encompasses 23 altcoins, including FTX Token (FTT), Aelf (ELF), NEM (XEM), JasmyCoin (JASMY), Ark (ARK), Loom Network (LOOM), OMG Network (OMG), WazirX (WRX), Ren (REN), Linear (LINA), Beta Finance (BETA), and Enzyme (MLN). With the recent expansion, this count will increase to 33.
Being included in the watchlist holds significance as it signals the possibility of an altcoin being delisted from Binance at any given time. Hence, investors in these altcoins should remain vigilant and closely monitor project-related developments.
Additionally, the cryptocurrency exchange has disclosed the removal of 2 altcoins, GMX (GMX) and SushiSwap (SUSHI), from the Seed Label list.
Binance’s Watchlist and Seed Label list, Alongside Associated Risks
Altcoins labeled under Binance’s Watch Label demonstrate heightened volatility and increased risk compared to other listed altcoins. These are consistently reviewed and closely monitored by Binance. Altcoins on the watchlist no longer align with the platform’s listing criteria, putting them at risk of delisting.
On the contrary, altcoins with the Seed Label represent new, innovative projects with elevated volatility and risk compared to other listed altcoins. Users intending to trade these labeled altcoins must undergo mandatory tests every 90 days and accept the Terms of Use on Binance Spot and/or Binance Margin platforms. These tests aim to ensure users are informed about the risks associated with trading these altcoins.
Information about altcoins with the Watch Label and Seed Label can be accessed on the Binance Spot and Binance Margin trading pages, as well as the Market Overview page.
Binance conducts regular reviews of listed altcoin projects, deciding whether to add or remove the Watch Label and Seed Label based on the latest findings. Criteria considered during these reviews include the team’s commitment, development activity level and quality, trading volume, liquidity, network security, stability of network/smart contracts, public communication, response speed to compliance requests, and ethical considerations for a healthy and sustainable crypto ecosystem.
