The largest crypto exchange, Binance, has put “Monitoring Tags” on a new batch of crypto assets, including privacy-focused cryptocurrency Monero, Zcash, and 8 others. These tokens are at risk of being delisted as they might no longer meet Binance’s listing criteria.
According to the official announcement shared on January 4, Binance has extended its Monitoring Tag list by adding 10 new crypto assets, including Aragon (ANT), Firo (FIRO), Keep3rV1 (KP3R), Mdex (MDX), MobileCoin (MOB), Reef (REEF), Vai (VAI), Monero (XMR), Zcash (ZEC), and Horizen (ZEN).
These assets will be closely monitored with regular reviews as they possess a higher level of risk compared to other listed assets.
Following the news, Monero (XMR) has dropped nearly 8% in the past 24 hours, while it has dropped more than 12% throughout the week. Zcash (ZEC) has also dropped 25% in the past 7 days, according to Coinmarketcap data.
Users will need to pass quizzes every 90 days in order to gain trading access to these tokens on the Binance spot and margin platforms. These quizzes are set to ensure that users are aware of the risks associated with trading these assets.
Most of the tokens under Binance’s Monitoring Tag have also seen restrictions from other exchanges, with the OKX announcing to delisting of several trading pairs for ANT, XMR, ZEC, and ZEN tokens.
The exchange has also removed GMX and SUSHI tokens from the Seed Tag, which represent new and innovative project tokens subject to higher market volatility.
Also Read: OKX Introduces FCA-Mandated Risk Assessments
