10 Altcoins at Risk of Delisting on Binance: What You Need to Know
Binance, one of the largest cryptocurrency exchanges in the world, has just released a list of 10 altcoins at high risk of being delisted. This review process lasts for about 30 days, demonstrating Binance's efforts to improve market quality and protect users.
List of 10 Altcoins at Risk of Delisting
According to the latest update from Binance, the 10 altcoins on the shortlist at risk of being delisted include Aergo (AERGO), Alpaca Finance (ALPACA), AirSwap (AST), Badger DAO (BADGER), BurgerCities (BURGER), COMBO (COMBO), NULS (NULS), STP (STPT), UniLend (UFT), and VIDT DAO (VIDT). These tokens are currently under close scrutiny, with liquidity risks and extreme volatility.
Binance Explains Risks of Watched Tokens
Binance said that tokens with a Watchlist exhibit higher volatility and come with greater risks than regular listed tokens. The exchange conducts periodic reviews and may decide to delist based on these results.
However, Binance also emphasized that being on the watchlist does not guarantee delisting. The final decision will be based on a thorough review of the current findings.
Requires Users to Pass a Risk Awareness Test
A new measure taken by Binance is requiring traders to pass a risk awareness test every 90 days to be allowed to trade on the watchlist tokens. This ensures that users understand the risks involved before engaging in trading.
Market Reaction
Immediately after the announcement of the potential delisting, the prices of these 10 altcoins plummeted, recording double-digit losses as investors rushed to trade the news. Concerns about liquidity and volatility have left investors worried about the future of these tokens.
Price Performance of AERGO, ALPACA, AST, BADGER, BURGER, COMBO, NULS, STPT
The price performance of these tokens was significantly affected by Binance's announcement. Many tokens recorded significant declines in a short period of time. The continued viability of these tokens on Binance has been questioned.
Risk Warning on Spot and Margin Trading
Binance has issued specific risk warnings for traders when interacting with monitored tokens. These tokens may be affected by factors such as regulatory uncertainty, illiquidity, or high volatility, and Binance will update the Custody Card monthly and consider canceling the Custody Card quarterly.
A focus on education and risk management
This move by Binance demonstrates an increased focus on user education and risk management, as well as compliance with regulatory requirements in an increasingly stringent regulatory environment. This is not only to protect users, but also to ensure transparency in the market.
Conclusion
The decline in supervised tokens is a typical reaction to potential delisting announcements. These fluctuations also serve as a reminder to investors of the risks involved in trading highly volatile digital assets.
