Binance Contemplates Removing Three Prominent Cryptocurrencies from its Platform: Insights
In a significant development, Binance, the leading cryptocurrency exchange, has placed BakeryToken (BAKE), IDEX (IDEX), and Self Chain (SLF) under its Monitoring Tag on July 7, 2025. This tag is a formal warning sign, indicating these tokens exhibit higher volatility and risk compared to other listed assets and are subject to increased scrutiny by Binance.
The implications of this tag are far-reaching. Firstly, tokens with this tag are at risk of no longer meeting listing criteria and may be delisted if they fail to improve on key factors such as liquidity, trading volume, and project fundamentals. This potential delisting could significantly reduce the accessibility and liquidity of these tokens on the platform.
The announcement triggered sharp declines in the prices of BAKE, IDEX, and SLF, with drops of 10–12% and spikes in trading volume due to panic selling. However, it's important to note that Binance conducts regular reviews of these tokens, and their status could change depending on the projects' performance and compliance with Binance’s standards.
For holders and traders, this uncertain future means increased volatility and risk. Investors should be cautious, as these tokens are more volatile and carry increased risk while under monitoring. If performance metrics like liquidity and trading activity do not improve, Binance might delist these tokens. However, the token projects can still take measures to meet Binance’s criteria and avoid delisting, which could stabilize their market position.
Binance's expansion of the Monitoring Tag may potentially lead to delisting if performance and compliance standards are not met. The update will affect assets such as VIRTUAL, ONDO, SAHARA, KAITO, Syrup, and KAIA on July 8, and THETA, DYDX, SK, AI, BAKE, and ACE on July 11.
It's crucial for investors to conduct their own research and consult financial experts before making any investment decisions. The announcement does not guarantee the accuracy of content as of the date of publication. Additionally, it's important to remember that the information provided is for informational purposes only, and certain offers mentioned may no longer be available.
In a separate announcement, Binance will launch trading for the new JPY pair, LPT/JPY, on July 10 at 8:00 a.m. (UTC), with zero maker costs from July 10 to Aug. 8. Furthermore, Binance will update the collateral ratio for various crypto assets under Portfolio Margin from July 8 to July 11 at 6:00 a.m. (UTC). The update will be completed within approximately 30 minutes.
It's worth noting that the update involving extending the "Monitoring Tag" to include BAKE, IDEX, and SLF does not represent the views of U.Today, and financial losses incurred while trading cryptocurrencies are not the responsibility of U.Today.
In conclusion, while BAKE, IDEX, and SLF remain listed and tradable on Binance, their addition to the Monitoring Tag is a warning sign that their future is uncertain and investors should be prepared for potential increased volatility or delisting.
- The addition of BakeryToken (BAKE), IDEX (IDEX), and Self Chain (SLF) to Binance's Monitoring Tag signifies an uncertain future for these tokens, as they are more volatile and carry increased risk, potentially leading to delisting if performance and compliance standards are not met.
- As a result of Binance's monitoring, investors should be cautious about these tokens and conduct comprehensive research before making any investment decisions, given the volatility and risk they now embody.
- Binance's decision to extend the Monitoring Tag to other assets, such as VIRTUAL, ONDO, SAHARA, KAITO, Syrup, and KAIA on July 8, and THETA, DYDX, SK, AI, BAKE, and ACE on July 11, emphasizes the importance of maintaining performance and compliance standards to avoid potential delisting.
