BakeryToken (BAKE), IDEX (IDEX), and Self Chain (SLF) have seen their values decrease following Binance's announcement that they have expanded the Monitoring Tag to include these three tokens. This tag puts the tokens at risk of being delisted from the largest cryptocurrency exchange if they do not meet the platform's strict criteria.
What Does Binance's Monitoring Tag Mean for BAKE, IDEX, and SLF
Binance announced on Monday, after a periodic review of the tokens. This decision takes into account multiple factors, including the commitment of the team, development activity, liquidity, network stability, community participation, etc.
“Based on recent assessments, Binance will expand 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 stated.
To better understand, Binance's Monitoring Tag is used to identify tokens with significantly higher volatility and risk compared to other listed tokens. Adding a token to the Monitoring Tag list does not automatically lead to delisting. However, it serves as a warning flag, indicating that the token may be removed from the platform.
“These tokens are closely monitored, with regular assessments being conducted. Please note that tokens with the Monitoring Tag may no longer meet our listing criteria and could be delisted from the platform,” the exchange added.
Furthermore, users wishing to trade these three tokens now have to comply with additional requirements. Specifically, they must complete a test every 90 days on the Binance Spot and/or Binance Margin platform and accept the platform's Terms of Use before trading BAKE, IDEX, or SLF. This step ensures that users are fully informed about the potential risks associated with trading these tokens.
Meanwhile, considering the potential consequences of the Monitoring Tag on altcoins, market data shows that the prices of all three affected tokens have been impacted. BAKE has decreased by 5.58%. IDEX decreased by 3.45%. Similarly, SLF, which recently transitioned to a new contract, has decreased by 3.29%.
It is noteworthy that these declines are not entirely surprising. All three tokens had already been on a downward trend prior to the announcement regarding the Monitoring Tag.
Our data shows that BAKE has decreased by 66.4% in value over the past month, indicating a broader pessimistic sentiment in the market towards this token. Similarly, SLF has experienced a sharp decline of 54.9%. Finally, IDEX has decreased by 25.1% during the same period.
These three tokens are currently facing a significant challenge. If Binance delists them, prices may continue to decline. This has been the case for other altcoins that the platform has previously removed.