According to a January 2nd official announcement, Binance will expand its monitoring tags to include STMX and TROY, remove monitoring tags from CVX and SUN, and remove seed tags from ARKM, BLUR, JTO, and TIA. Here are all the details…
Binance has made a new announcement
Binance announced that it will make changes to the labels of some cryptocurrencies as a result of its recent reviews. Effective January 2, 2025, some tokens will be added to the “Watch Tag” list, while others will be removed from this list and the “Seed Tag” list. The tokens to be added to the Watch Tag list are StormX (STMX) and TROY (TROY). This label indicates that these tokens carry higher volatility and risk compared to other listed tokens.
Binance will closely monitor these tokens and conduct regular reviews. It should be noted that tokens with the Watch Tag risk being removed from the platform if they no longer meet the listing criteria. The tokens that will be removed from the Custody Tag list are Convex Finance (CVX) and Sun (SUN). The tokens to be removed from the Seed Tag list are Arkham (ARKM), Blur (BLUR), Jito (JTO) and Celestia (TIA).
What is Seed Tag?
Seed Tag, which replaces Binance Innovation Zone, is a tag used to categorize cryptocurrencies that are typically in the early stages of development and may not yet have a working product or an established user base. Therefore, cryptocurrencies with a Seed Tag may exhibit higher volatility and investment risks compared to other listed tokens.
Besides the Seed Tag, you can also find cryptocurrencies classified under the Watch Tag. These cryptocurrency projects are usually more established than Seed Tag projects. Typically, Watch Tag projects have a working product and a certain level of user adoption. However, they come with their own risks, including potential legal and regulatory issues, technological challenges, market volatility and so on.
Trading with these tokens is not easy
Binance reminded that users who wish to trade tokens marked with the Custody or Seed Tag must pass a quiz every 90 days on the Binance Spot and/or Binance Margin platforms and agree to the Terms of Use. These quizzes are organized to ensure that users are aware of the risks.
Binance will continue to conduct periodic project reviews, taking into account various criteria such as the project teams’ commitment to the project, the level and quality of development activities, trading volume and liquidity, and the security and stability of the network. As a result of these reviews, tokens may be added or removed from the Custody or Seed Tag.
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