BETA, BOND, WTC, and XEM Added to Binance's Monitoring Tag List

blockchain.news:

Binance has expanded its Monitoring Tag list to include Beta Finance (BETA), BarnBridge (BOND), Waltonchain (WTC), and NEM (XEM) as of October 4, 2023, according to Binance official blog. The Monitoring Tag serves as a risk indicator for tokens with elevated volatility and risk. 

The Monitoring Tag is a feature on Binance that flags tokens with higher volatility and risk compared to other listed assets. Binance performs regular reviews of these tagged tokens based on a comprehensive set of criteria. These criteria include the team's commitment to the project, the level and quality of development activity, trading volume and liquidity, and the stability and safety of the network from attacks, among others. Tokens that consistently fail to meet these criteria are at risk of being delisted from the platform.

To trade these tagged tokens, Binance mandates that users pass quizzes every 90 days on its Spot and Margin trading platforms. These quizzes aim to ensure that traders are fully aware of the risks involved in trading such volatile assets. Additionally, a risk warning banner is displayed on the trading pages for these tokens, serving as an extra layer of caution for traders.

Binance's decision to extend its Monitoring Tag to these four tokens is part of a broader industry trend towards increased scrutiny and risk management. On September 6, 2023, Coinbase announced that it would suspend trading for BarnBridge (BOND) and other tokens. Similarly, OKX revealed plans to delist several trading pairs, including XEM, that did not meet its listing criteria on September 21, 25, and 26.

Binance has committed to conducting periodic reviews to reassess the Monitoring Tag status of tokens. This is part of the exchange's broader