Binance, the world’s largest cryptocurrency broker, placed 4 cryptocurrencies on a kind of ‘watchlist’ this Wednesday (4). According to the official announcement, the projects carry higher risks than other assets on the platform.
Cryptocurrencies can still be traded on Binance but are at risk of being removed at any time. It’s no surprise that assets fell by as much as 12.5% following the announcement.
This list is public and can be consulted at any time. Therefore, investors can use it to identify which projects are in crisis.
Binance oversees another four cryptocurrencies
Binance’s monitoring list already includes 27 cryptocurrencies that are considered high risk by the broker. Some examples are FTT, a token of the bankrupt FTX, and VGX, a token of the also bankrupt Voyager.
While it is still possible to trade such assets on Binance, the brokerage informs that investors must answer a quiz every 90 days and accept the terms of use to access such markets.
“The Monitoring tag is applied to tokens that have higher volatility and risk compared to other listed tokens.”
“These tokens are continuously monitored through regular analyses”emphasizes Binance. “In certain circumstances and in the worst case, these tokens may be removed from the token list.”
The four projects that made it onto this list this Wednesday were Beta Financing (BETA), BarnBridge (BOND), Waltonchain (WTC) It is NONE (XEM). The four cryptocurrencies in question operate with a decline of 12.5%, 7.7%, 9.9% It is 4%respectively.
In the official statement, Binance points out that the decision may be related to a lack of commitment from the project team, level of development, liquidity and volume, or even evidence of unethical behavior.
Which cryptocurrencies are on Binance’s watchlist?
These projects are at risk of being removed from Binance and could suffer even greater losses if they leave the world’s largest cryptocurrency exchange. That’s why the 27 cryptocurrencies on this list deserve special attention.
The projects updated last Wednesday (4) include tokens from failed brokerage firms, cryptocurrencies targeted in hacks, projects sanctioned by the US and even a case where the project’s CEO was arrested. The full list is as follows:
- FTX Token (FTT)
- NONE (XEM)
- Aelf (ELF)
- JasmyCoin (JASMY)
- Loom Network (LOOM)
- Ark (Ark)
- OMG Network (OMG)
- Linear (LINE)
- Beta Financing (BETA)
- Run (RUN)
- Multiple chains (MULTI)
Enzyme (MLN) - WazirX (WRX)
- Cream Finance (CRÈME)
- Voyager Token (VGX)
- Acropolis (AKRO)
- BitShares (BTS)
- Gifto (GFT)
- AirDAO (AMB)
- BardBridge (BOND)
- Waltonchain (WTC)
- OpenANX (OAX)
- Tornado Cash (RIPPED)
- DREP (DREP)
- PNetwork (PNT)
- Perlin (PERL)
- OokiDAO (OOKI)
Together, these cryptocurrencies have a market value of R$9.3 billion, a small amount considering the sector’s R$5.57 trillion. The list is publicly available on a dedicated Binance page and can be accessed at any time.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
