6 New Digital Tokens Under the Microscope of Binance Platform.. What’s the Reason? 🤔🤔
The Binance platform (the largest cryptocurrency exchange in the world) has decided to add a watchlist tag to six new tokens, including MOVE from Movement Labs, in a move aimed at protecting users and enhancing transparency. This decision comes after a market maker scandal that negatively affected MOVE, prompting the team to relaunch the project under a new name, Move Industries, excluding co-founder Rushi Manche. Adding MOVE to the watchlist after the rebranding.
According to an official notice issued by Binance, tokens with the watchlist tag often have high volatility and significant risks, and they may be removed in the future.
In addition to MOVE, Binance has added the tokens ALPHA from Stella, HIFI from Hifi Finance, LEVER from LeverFi, PORTAL, and REI from Rei Network to the watchlist. The platform indicated that this step is part of its ongoing efforts to ensure the security of user assets and achieve greater stability in the market. The Effects of the Watchlist Tag on Trading
The watchlist tag has significant impacts on user experience, as traders holding these tokens must complete periodic tests every 90 days on the Binance Spot and Binance Margin platforms, in addition to continuously agreeing to the platform's terms of use. This reflects Binance's commitment to ensuring the highest levels of security and compliance in its markets.
