Key Points
- Based on recent reviews, Binance added 4 projects to its Monitoring Tag list.
- The tokens’ prices recorded price drops following the exchange’s announcement.
On June 5, Binance announced that it added four projects to its Monitoring Tag list:
- Beefy (BIFI – A platform claiming to be a multichain yield optimizer across 23 chains
- StarFi (FIS) – A liquid staking as a Service (LSaaS) infrastructure provider and LSD protocol for PoS chains
- Komodo (KMD) – An open-source technology provider that promises to offer blockchain solutions for devs and enterprises
- Measurable Data Token (MDT) – A data value creation ecosystem for AI
The digital assets experienced price drops on June 5 following Binance’s announcement.
Binance’s Monitoring Tag Announcement
In its official announcement, Binance added BIFI, FIS, KMD, and MDT to its list of Monitoring Tag projects, following recent reviews.
Digital assets that have the Monitoring Tag applied to them exhibit significantly higher volatilty compared to other tokens listed on the exchange, and they are closely monitored by Binance, which periodically conducts reviews on them.
These tokens are at risk of being delisted from the platform if they no longer meet its requirements.
Binance’s criteria for adding or removing tokens to the Monitoring Tag list include the team’s commitment to the project, development activity, trading volume and liquidity, stability and network safety, the team’s community engagement, evidence of fraudulent conduct, and others.
BIFI, FIS, KMD, MDT Price Trajectories
The four digital assets recorded price volatilty following the exchange’s announcement. For instance, FIS recorded a price drop of 10% following Binance‘s announcement, dropping from a market cap of $16 million to $14 million.
KMD’s price dropped by over 12%, and it’s currently trading above $0.098, BIFI’s price dropped by over 3%, now trading above $168, while MDT’s price dropped by 10%, now trading above $0.02.
