Binance Adds Five Tokens to Delisting Watchlist

Binance, one of the largest cryptocurrency exchanges in the world, has added five tokens to its Monitoring Tag list. The tokens are Moonbeam (GLMR), ICON (ICX), Moonriver (MOVR), SuperRare (RARE), and Sophon (SOPH). This designation means that these tokens will be under closer scrutiny by Binance, as they may not meet the exchange's listing standards.

The Monitoring Tag does not mean immediate delisting. Instead, it signals a possible future delisting if the tokens fail to meet the exchange's requirements. The announcement does not provide specific reasons for adding each project to the list.

Binance uses its Monitoring Tag for assets that are considered more volatile or risky than other listed tokens. Its reviews examine various factors, including team commitment, development activity, trading volume, liquidity, network security, smart contract stability, public communication, due diligence responses, token supply changes, and evidence of misconduct.

The five tokens were added to the Monitoring Tag list on August 11. Market data showed a mostly negative reaction on August 12, with GLMR and MOVR leading losses. However, trading activity increased for several assets, including ICON and Moonriver.