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Binance Adds 10 New Altcoins to Watchlist!

Binance

Binance, the world’s largest cryptocurrency exchange, has announced that it has added 10 new altcoins to its watchlist, including major projects such as Monero (XMR) and Zcash (ZEC).

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In its watchlist published on January 4, 2024, Binance announced that it has added Aragon (ANT), Firo (FIRO), Keep3rV1 (KP3R), Mdex (MDX), MobileCoin (MOB), Reef (REEF), Vai (VAI), Monero (XMR), Zcash (ZEC), and Horizen (ZEN). With the addition of these 10 new altcoins, the number of assets on the watchlist has increased from 23 to 33.

The cryptocurrency exchange also announced that it has removed GMX (GMX) and SushiSwap (SUSHI) from the watchlist.

What is the Binance Watchlist? What risks await assets on this list?

Altcoins included in Binance’s watchlist are more volatile and carry more risk than other altcoins. These altcoins are reviewed and monitored regularly by Binance. It is stated that the altcoins on the watchlist no longer meet the listing requirements on the exchange and that these assets are at risk of being delisted.

Users who trade with assets on the list are required to pass the tests directed to them every 90 days and accept the conditions. The tests are conducted to determine whether users are aware of the risks before trading with assets on the watchlist.

Here are some of the risks that await altcoins on Binance’s watchlist:

  • Higher volatility: Altcoins on the watchlist are more likely to experience sharp price swings than other altcoins. This can lead to significant losses for investors.
  • Less liquidity: Altcoins on the watchlist are less liquid than other altcoins. This means that it may be more difficult to buy or sell them at a fair price.
  • Risk of delisting: Binance may delist altcoins from the watchlist if they no longer meet the exchange’s listing requirements. This would make it impossible to trade these assets on Binance.

Investors should carefully consider the risks before trading altcoins on Binance’s watchlist.


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