Binance’s announcement about placing Bluzelle (BLZ), $CLV (CLV), SelfKey (KEY), $PROSPER (PROS), and $VITE (VITE) under its Monitoring Tag is a significant warning to investors. When cryptocurrencies are tagged in this way, they are considered more volatile and face potential delisting if they fail to meet Binance’s listing standards.
This move is likely a precaution due to the ongoing market selloff, but it puts additional pressure on these assets. The monitoring tag requires investors to complete quizzes every 90 days to ensure they are aware of the risks involved in trading these assets.
If these tokens are eventually delisted, it could trigger a loss in investor confidence, driving their prices down. However, the news might also lead to increased trading activity as traders react to the uncertainty, potentially creating both buying and selling opportunities.
What’s next will largely depend on whether these tokens manage to meet Binance’s listing criteria during this period of scrutiny. Investors are advised to stay informed about the developments surrounding these assets, as any further negative news could lead to significant price declines.
DYOR