BakeryToken (BAKE), IDEX (IDEX), and Self Chain (SLF) saw a decline in value following Binance’s announcement that it had extended its Monitoring Tag to include these three tokens.
This tag puts the tokens at risk of being delisted from the largest cryptocurrency exchange if they fail to meet the platform’s stringent criteria.
What Binance’s Monitoring Tag Means for BAKE, IDEX, and SLF
Binance made the announcement on Monday, following its periodic review of the tokens. The decision takes into account various factors, including team commitment, development activity, liquidity, network stability, community engagement, and more.
“Based on recent reviews, Binance will extend the Monitoring Tag to include more tokens on 2025-07-07. The tokens to be added to the Monitoring Tag list are: BakeryToken (BAKE), IDEX (IDEX), and Self Chain (SLF),” the announcement read.
For context, Binance’s Monitoring Tag is used to identify tokens that display notably higher volatility and risks than other listed tokens. The inclusion of a token on the Monitoring Tag list does not automatically result in delisting. However, it serves as a cautionary flag, indicating that the token could be removed from the platform.
“These tokens are closely monitored, with regular reviews conducted. Keep in mind that tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform,” the exchange added.
Moreover, users who want to trade these three tokens are now subject to additional requirements. Specifically, they must complete a quiz every 90 days on the Binance Spot and/or Binance Margin platforms and accept the platform’s Terms of Use before trading BAKE, IDEX, or SLF. This step ensures that users are fully informed of the potential risks involved with trading these tokens.
Meanwhile, given the potential consequences of the Monitoring Tag for altcoins, market data highlighted that the price of all three impacted tokens suffered. BAKE experienced a 5.58% price drop. IDEX saw a 3.45% decline. Similarly, SLF, which recently migrated to a new contract, fell by 3.29%.
BAKE, IDEX, and SLF Price Performance. Source: TradingView
It is worth noting that these declines are not entirely surprising. All three tokens had already been experiencing downward trends before the Monitoring Tag announcement.
BeInCrypto data showed that BAKE has suffered a 66.4% decline in value over the past month, indicating a broader bearish sentiment in the market for this token. Similarly, SLF has seen a sharp decrease of 54.9%. Lastly, IDEX has fallen by 25.1% during the same period.
The three tokens now face a critical challenge. If Binance delists them, it could prompt further price declines. This has been the case with other altcoins that the platform previously removed.
