Binance is removing the Monitoring Tag for Zcash (ZEC) and the Seed Tag for Ethena (ENA), Pyth Network (PYTH), Bittensor (TAO), and Wormhole (W) on July 9, 2025. Here's what this means:
Monitoring Tag Removal:
- Zcash (ZEC) will no longer be labeled as a high-risk token with high volatility.
- This removal indicates that ZEC has met Binance's listing criteria and stability requirements.
Seed Tag Removal:
- Ethena (ENA), Pyth Network (PYTH), Bittensor (TAO), and Wormhole (W) will no longer be labeled as new, innovative projects with high volatility and risks.
- This removal suggests that these tokens have demonstrated stability and maturity in their projects.
Reasons Behind the Decision:
Binance considers several factors when reviewing tokens for Monitoring and Seed Tags, including ¹:
- Team Commitment: The team's dedication to the project.
- Development Activity: The level and quality of development.
- Trading Volume and Liquidity: Market demand and supply.
- Network Stability: Security measures to prevent attacks.
- Public Communication: Transparency and community engagement.
Impact:
The removal of these tags may positively impact the tokens' market performance, as it indicates a level of maturity and stability. However, it's essential to note that other services related to these tokens will not be affected.
Zcash's current price is $41.07, with a 6.87% increase in the last 24 hours. Its market capitalization stands at approximately $649.36 million.
