The world's leading cryptocurrency exchange Binance recently announced the application of a Monitoring Tag for six new tokens, most notably MOVE, the native token of the Movement Labs project – which has now been renamed Move Industries following a series of scandals involving market makers and the co-founder.

According to the official announcement from Binance, the tokens labeled for monitoring include:

  • MOVE (of Movement Labs)

  • ALPHA (Stella)

  • HIFI (Hifi Finance)

  • LEVER (LeverFi)

  • PORTAL

  • REI (Rei Network)

Binance stated:

"Tokens labeled for monitoring exhibit significantly higher volatility and risk compared to other listed tokens."

The monitoring label means that these tokens will be closely monitored for performance and compliance with the listing criteria of the exchange. If they fail to meet the evaluation criteria or continue to exhibit high risk, these tokens may be completely delisted from the platform.

MOVE Continues to Plummet After Announcement

Immediately after the announcement was released, the MOVE token continued to slide sharply. As of now:

  • MOVE decreased by more than 12% in the past 24 hours

  • The current price is about $0.15, down nearly 50% in a month

  • The sharp decline began after the project was embroiled in a scandal involving a market maker and the decision to remove co-founder Rushi Manche

This event occurred shortly after Movement Labs announced its rebranding to Move Industries to reposition its brand and regain community trust.

Other Tokens Also Encounter Volatility

Besides MOVE, several other tokens also experienced a decline immediately after Binance labeled them for monitoring:

  • REI decreased the most by 12.5%

  • ALPHA lost over 5%

  • PORTAL dropped as much as 17.1%

However, some tokens still managed to maintain a slight increase:

  • HIFI increased by 4.4%

  • LEVER surged by 12.8% in the past 24 hours

Users Must Complete Periodic Quizzes

In addition to warning about risks, Binance also requires users who wish to trade tokens with a monitoring label to:

  • Complete the quiz every 90 days on the Binance Spot and Binance Margin platform

  • Accept periodic terms of use

This measure aims to raise awareness and ensure users understand the risks when trading highly volatile tokens.

Conclusion

Binance's recent move reflects a tougher stance in protecting users from high-risk digital assets. The inclusion of MOVE and other tokens on the monitoring list could significantly affect market confidence and the value of related projects in the near future.