Binance Issues Stark Warning For These 5 Crypto, What’s Next?

The leading crypto exchange, Binance, has recently revealed a warning over five crypto, sparking market discussions. In a recent press release, the exchange said that it has included monitoring tags for Bluzelle (BLZ), CLV (CLV), SelfKey (KEY), Prosper (PROS), and VITE (VITE). Notably, the tokens under this tag are usually seen as more volatile and at-risk assets of potential delisting.

Binance Adds Monitoring Tags For These Five Crypto

Binance has recently announced its plans to include five cryptocurrencies in its Monitoring Tag list. This move signals heightened volatility and potential risks for the assets, especially amid the ongoing broader crypto market selloff.

According to the exchange, the tokens with the Monitoring Tag are closely reviewed and face potential delisting if they fail to meet the listing requirements. In other words, this tag indicates a warning for the investors, which requires them to complete quizzes every 90 days, ensuring they understand the risks before putting their bets into these assets.

Meanwhile, these five tokens are now under close scrutiny by the exchange. Notably, the BLZ token, which is known for its decentralized data storage solutions, faces potential delisting from the exchange. Simultaneously, the other four crypto also face similar pressure, which has sparked concerns among investors.

Usually, any positive announcements from the top crypto exchanges tend to boost the market confidence in the assets. Similarly, any other announcement or negative developments like delisting and others, could significantly weigh on the investors’ sentiment and trigger a decline in the prices.

PENDLE And SEI Receives Positive Outlook

The latest Binance announcement also mentions the removal of the Seed Tag from Pendle (PENDLE) and Sei (SEI). This removal signals improved stability in these projects, indicating they are no longer in the exchange’s high-risk category. Notably, the Seed Tag generally applies to new, innovative projects that exhibit early-stage volatility, but passing this phase can boost investor confidence.

Meanwhile, the exchange’s criteria for reviewing tokens include various factors, such as the commitment of the project team, network security, and public communication. Despite that, both PENDLE and SEI price dropped about 4% and 5%, respectively, today.

However, the tokens added to the Monitoring Tag often see heightened volatility, impacting trading activity. This step also serves as a reminder to investors about the risks of certain crypto projects. Tokens on this list often experience market instability, reflecting the platform’s rigorous evaluation process.

Despite that, the BLZ price was up over 4% today and exchanged hands at $0.126. Its trading volume rocketed nearly 170% to $15.73 million, indicating a growing confidence of the investors towards the crypto despite the recent warning.

However, the other four crypto CLV, KEY, PROS, and VITE prices noted a sharp decline, with all these four crypto falling nearly 20% today. This reflects the influence of Binance on the investors’ sentiment and the potential risks associated with the assets.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.