These Tokens Are Being Monitored on Binance, But Why?
The post These Tokens Are Being Monitored on Binance, But Why? appeared on BitcoinEthereumNews.com.
Binance has put FTT, ZEC, JASMY, and others under scrutiny. If these tokens fall short of the CEX’s standards, they will be delisted. The total market cap of tokens under monitoring stands at $4.32 billion. Binance, the world’s largest cryptocurrency exchange by volume, placed numerous digital assets under scrutiny, including FTX Token (FTT), ZCash (ZEC), and JasmyCoin (JASMY). This would mean these altcoins carry higher investment risk, and so the exchange could delist any of these coins in the future. Binance uses a “Monitoring Tag” for all altcoins under scrutiny. The exchange claims these cryptocurrencies generally “have much higher volatility and risks compared to other listed tokens.” Therefore, the platform uses the monitoring tag to protect investors from these altcoins’ increased volatility. Binance said that it conducts regular reviews of these digital assets. If they don’t meet the exchange’s standards, they face delisting. The exchange updates the list of these altcoins in the first week of every quarter after researching the digital asset’s community, price action, and other factors. The total market capitalization of tokens under Binance’s monitoring is a massive $4.32 billion, with a total trading volume of $651.20 million. However, Binance hasn’t publicly revealed its criteria for delisting, raising concerns about the exchange’s fairness. Tokens Under Monitoring: A Closer Look JASMY is among the most volatile digital assets in the market, crashing 99.57% from its all-time high of $4.99 witnessed four years ago. Currently trading at $0.02138 and down 4% in the past 24 hours, the cryptocurrency has surged 312.03% in the past year. Considering the significant ups and downs, JASMY is indeed a volatile token. Read also: Binance Launches DEGEN Futures Trading, Price Surges 50% Similar can be said about FTT, a digital asset which reached a ATH of $85.02 during the peak of its popularity. Now,…
Filed under: News - @ November 20, 2024 9:28 am