Key Points
- Binance included the three assets on its Monitoring Tag list after careful review.
- BAKE, IDEX, and SLF recorded price volatilty on July 7 following the announcement.
On July 7, Binance announced that it's extending its Monitoring Tag list to include three digital assets, following recent reviews:
- BakeryToken (BAKE) - BakeryToken is a part of the BakerySwap decentralized AMM protocol based on BSC
- IDEX (IDEX) - A hybrid DEX combining an order book model with an AMM
- Self Chain (SLF) - A modular intent-centric access L1 blockchain and keyless wallet infrastructure service
Binance's Details About BAKE, IDEX, SLF Inclusion in Monitoring Tag List
Binance made the official announcement about including the three digital assets in its Monitoring Tag list after careful review of the projects. Here are the key details about the tokens' inclusion in this list:
- Tokens with Monitoring Tag exhibit higher volatilty risks compared to other projects.
- These tokens are closely monitored and reviewed periodically.
- The tokens are at risk of no longer meeting Binance's listing criteria and getting delisted from the platform.
Users can get access to trade the tokens included in this list by passing quizzes every 90 days on Binance Spot and/or Margin. These quizzes are set up to ensure users are aware of the risks associated with the digital assets with the Monitoring Tag.
Binance decides to include tokens in the Monitoring Tag list after reviewing multiple factors associated with the projects, including the teams' commitment to the projects, level and quality of development activity, trading volume and liquidity, network stability in front of attacks, public communication and transprency, evidence of unethical or fraudulent conduct or activity, and others.
The three digital assets recorded price volatilty on July 7, following the exchange's announcement.
BAKE, IDEX, SLF Price Trajectories
SLF had a market cap above $11 million ahead of Binance's announcement, and it dropped to over $10 million after, seeing a decline of more than 10% in the past 24 hours.
BAKE's price spiked by over 11%, following Binance's notes, and then it dropped by around 6%. BAKE is now trading above $0.09 with a market cap of over $26 million, down by almost 8% in 24 hours.
IDEX also recorded price volatilty and it's trading above $0.01 with a market cap of almost $16 million, at the moment of writing this article.
The coin is down by almost 9% in the past 24 hours.
