Binance has updated its risk labels, adding Wanchain (WAN) to the Monitoring Tag list and removing several tokens from both Monitoring and Seed Tags. The update, effective October 9, signals a potential for future Binance delistings and has triggered a double-digit price drop for WAN.
These changes reflect the exchange’s ongoing efforts to protect users and maintain transparency. While some tokens now face closer scrutiny, others have demonstrated stability and cleared recent risk reviews.
WAN Token Hits New Record Low Following Binance Monitoring Tag Update
In the latest update, Binance notified users that it has extended Monitoring Tag to WAN token. The altcoin is native to the Wanchain blockchain. It facilitates cross-chain transactions and enhance interoperability among different blockchain networks.
“Binance will extend the monitoring tag to include WAN, removing the monitoring tag for GPS & MBL, and removing the seed tag for BERA, BIO, ZK & ZRO.” Binance posted on X.
Following the announcement, the token’s price declined 34%. WAN dropped from around $0.10 to $0.06, the latter being a new all-time low.
However, the altcoin managed to recover slightly after. At the time of writing, it traded at $0.87, down 14.7% since the announcement.
WAN Price Drop After Binance’s Announcement. Source: TradingView
At the same time, the exchange removed the Monitoring Tag from GoPlus Security (GPS) and MovieBloc (MBL). Meanwhile, Berachain (BERA), BIO Protocol (BIO), ZKsync (ZK), and LayerZero (ZRO) have been taken off the Seed Tag list.
What Are Binance Monitoring and Seed Tags and Why Do They Matter?
The largest cryptocurrency exchange applies the Monitoring Tag to cryptocurrencies exposed to increased volatility. These assets remain available for trading but undergo frequent reviews, which could result in delisting from Binance if concerns persist.
The Seed Tag highlights newer, less-proven projects that carry added risk from limited products or user adoption. Both tags serve as visible alerts, signaling traders to remain cautious.
Tokens under Monitoring or Seed Tags must meet strict criteria on development activity, liquidity, security, and regulatory standing. Being placed on these tags notifies traders of increased caution.
Binance also requires users to pass a quiz every 90 days, ensuring awareness of risks and compliance with the latest Terms of Use.
“The quizzes are set up to ensure users are aware of the risks before trading tokens with the Monitoring Tag or Seed Tag,” Binance stated.
The lists are updated after reviews covering team commitment, liquidity, user community strength, code security, and responsiveness to due diligence. Removal from these lists usually reflects stronger fundamentals or resolved concerns.
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