Cryptocurrency exchange giant Binance regularly reviews all listed spot trading pairs to protect users and maintain a high-quality trading market. As a result of these reviews, some pairs may be delisted due to factors such as low liquidity and transaction volume. On the other hand, in another statement made today, the exchange said that it added several altcoins to its “watch list”. Here are the details…
Binance delists two trading pairs
Based on its latest evaluations, Binance announced that it will remove the LDO/TUSD and WING/BTC spot trading pairs as of 04:00 UTC on April 5, 2024. This announcement means that trading in these pairs will no longer be possible. However, there is an important point: The status of the assets under the delisted pairs (LDO and WING) does not change. Users will still be able to trade these assets via other trading pairs on Binance Spot.
Binance also announced that Spot Trading Bot services will be terminated for LDO/TUSD and WING/BTC pairs on this date. Traders using Spot Trading Bots are strongly advised to update or cancel their bots before the end of services to avoid any potential losses.
5 altcoins are on the “watch list”
On the other hand, Binance made another move on the same day. The exchange has expanded its “Watching Tag” application to closely monitor cryptocurrencies that exhibit higher volatility and risk. In this context, the tokens added to the system as of April 3, 2024 were:
- Ellipsis (EPX)
- ForTube (FOR)
- Unfi Protocol DAO (UNFI)
- Waves (WAVES)
- Wrapped NXM (WNXM)
Tokens marked with Tracking Tag carry significantly higher volatility and risk compared to other listed assets. Binance reviews these tokens regularly. There is a possibility that cryptocurrencies with Tracking Tags will be completely removed from the platform. In order to see tokens marked with Tracking Tag on trading platforms, users must pass a quiz on Binance Spot or Binance Margin platforms every 90 days and accept the Terms of Use.
What do the project evaluations of the stock exchange include?
Binance will periodically conduct project evaluations and based on these evaluations will decide whether to add or remove the Tracking Tag from the tokens. The following criteria are taken into account during the reviews:
- Project team’s commitment to the project
- Level and quality of development activities
- Trading volume and liquidity
- Resilience and security of the network against attacks
- Network/smart contract stability
- Level of communication with the public
- Responding to regular due diligence requests
- Evidence of unethical/fraudulent behavior or negligence
- Contribution to a healthy and sustainable cryptocurrency ecosystem
These moves by Binance led to different reactions in the cryptocurrency market. Recently, the stock market had similarly delisted three altcoins, which caused significant declines in the prices of these assets. According to the data, with the latest announcement, sales pressure has increased in tokens with the Tracking Tag added. While Waves experienced the biggest loss with a 15% decrease, FOR had a 9% decrease.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.
Read more: Binance Announcements: Alarm Bells Are Ringing for These 5! Prices got cheaper