Key Points
- Binance announced an extension to the list of tokens with Monitoring Tags for April 3.
- The tokens announced are Ellipsis (EPX), ForTube (FOR), Unfi Protocol DAO (UNFI), Waves (WAVES), and Wrapped NXM (WNXM).
- Monitoring Tags mean higher volatility and risks compared to other tokens.
In an official announcement, Binance reveals that it plans to extend the Monitoring Tag to include more tokens today.
Five more tokens will receive the Monitoring Tag which highlights a higher degree of risks and volatility compared to other tokens.
The five tokens include the following, according to the Binance post: Ellipsis (EPX), ForTube (FOR), Unfi Protocol DAO (UNFI), Waves (WAVES), and Wrapped NXM (WNXM).
Monitoring Tags imply potential delisting at any time
These tokens will be closely monitored and they will have regular reviews. Binance also mentioned that tokens with such a tag are at risk of no longer meeting their criteria, which could ultimately lead to a delisting from the platform.
In order to get access to tokens that are marked with the Monitoring Tag, users will have to pass the quiz every 90 days on the Binance Spot and/or the Binance Margin platforms. They will also have to accept the Terms of Use.
The aim of such quizzes is to ensure that users are aware of the risks of these tokens before trading them.
Previously, Binance announced its strategic move to boost transparency and offer users a more comprehensive understanding of listed tokens. The exchange also expanded the Monitoring Tags to include more tokens.
Earlier this year, the exchange announced the newly added tokens to the Monitoring Tag list, which included Keep3rV1 (KP3R), Reef (REEF), Aragon (ANT), Firo (FIRO), MobileCoin (MOB), Mdex (MDX), Vai (VAI), and Horizen (ZEN).
Binance also made sure to highlight precious info about trading responsibly and employing risk management strategies via their X account:
https://twitter.com/binance/status/1775282143217815754
The other day, the exchange made the announcement regarding the listing of Wormhole (W) and open trading for spot trading pairs on April 3.
According to the official announcement, the new spot trading pairs include the following: W/BTC, W/USDT, W/FDUSD, and W/TRY.
In other recent important news, the exchange also made headlines recently following a new partnership between Binance Charity and the Children of Heroes Foundation that aims to offer support to children affected by the Ukraine war. This was the first time when Binance used the phrase “Russia invasion,” in an official announcement.
