The leading cryptocurrency exchange Binance has announced plans to expand its watchlist by adding 10 new altcoins. The watchlist is a critical indicator for investors as inclusion can signal potential delisting from the platform. The altcoins set to join the watchlist are Aragon (ANT), Firo (FIRO), Keep3rV1 (KP3R), Mdex (MDX), MobileCoin (MOB), Reef (REEF), Vai (VAI), Monero (XMR), Zcash (ZEC), and Horizen (ZEN).
Currently, Binance’s watchlist includes 23 altcoins such as FTX Token (FTT), Aelf (ELF), NEM (XEM), and others. With the new additions, the total will rise to 33. Altcoins on the watchlist are subject to heightened scrutiny due to their increased volatility and risk, potentially leading to their removal from the exchange.
Moreover, Binance has announced the removal of two altcoins, GMX (GMX) and SushiSwap (SUSHI), from its Seed Label list. The Seed Label indicates new and innovative projects that carry higher volatility and risk compared to other listed altcoins.
Users interested in trading altcoins with the Watch Label or Seed Label must pass tests every 90 days on the Binance Spot and/or Binance Margin platforms and agree to the Terms of Use. These tests ensure that users are aware of the risks before trading these altcoins.
Binance conducts regular reviews of listed altcoin projects to determine whether they should carry the Watch Label or Seed Label. The criteria for review include the team’s commitment to the project, the level and quality of development activity, trading volume and liquidity, network stability and security against attacks, smart contract/network stability, public communication level, responsiveness to periodic compliance requests, and contribution to a healthy and sustainable crypto ecosystem.
Investors holding altcoins on the watchlist or Seed Label list should closely monitor developments and be cautious, as these labels indicate a higher likelihood of delisting from Binance due to not meeting the platform’s listing criteria.