Binance Adds Monitoring Tags to Five Tokens Including GLMR, ICX
Summary
- Binance said it had added Moonbeam (GLMR), ICON (ICX), Moonriver (MOVR), SuperRare (RARE) and Sophon (SOPH) to its Monitoring Tag list.
- The exchange said the Monitoring Tag is used for tokens with higher volatility and risk than other listed assets, and that they may face delisting if they fail to meet the required standards.
- Binance said it determines whether to apply the Monitoring Tag after reviewing factors including project development activity, trading volume and liquidity, and network and smart-contract stability.
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Binance has added five cryptocurrencies to its Monitoring Tag list.
In a notice published on August 11, the global crypto exchange said the designation now applies to Moonbeam (GLMR), ICON (ICX), Moonriver (MOVR), SuperRare (RARE) and Sophon (SOPH).
The Monitoring Tag is assigned to tokens that carry higher volatility and risk than other listed assets. Tokens under the label are subject to regular reviews by Binance and may be delisted if they fail to meet the exchange's listing standards.
Binance said it decides whether to apply the Monitoring Tag based on a broad review of factors including project development activity, trading volume and liquidity, network and smart-contract stability, the team's contribution to the project, the level of community communication, any changes to tokenomics, and contributions to the broader ecosystem.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.