Giant cryptocurrency exchange BinanceIn its recent announcement, while expanding the Tracking Tag application for some altcoins, Seed Tag will be removed from some altcoins. Accordingly, Bluzelle (BLZ), CLV (CLV), SelfKey (KEY), Prosper (PROS) and VITE (VITE) altcoins will be included in the Monitoring Tag. At the same time, the Seed Tag will be removed from Pendle (PENDLE) and Sei (SEI) altcoins.
Meaning of Tracking and Seed Label
Tracking TagIt refers to altcoins on the Binance exchange that carry higher volatility and risk compared to other altcoins. Altcoins with Watch Label are regularly reviewed and there is a risk of these altcoins being delisted from the exchange.
On the other hand, Seed Tag represents innovative projects. These projects are at higher levels than other altcoins in terms of volatility and risk.
Binance blouse (BLZ), CLV (CLV), SelfKey (KEY), Prosper (PROS), VITE (VITE), pendle (PENDLE) and Sei The Tracking Tag and Seed Tag change announced for (SEI) altcoins became active immediately. In addition, the cryptocurrency exchange stated that there will be no changes in other services for the relevant altcoins.
Binance Regular Reviews and Label Changes
Binance uses tracking or seed tags to help its users better understand the risks. altcoinIt requires the application of a quiz every 90 days for ‘s. Users who successfully complete these quizzes can continue trading in the relevant altcoins.
Labels applied to altcoins are regularly reviewed by Binance and changes are made based on various criteria such as projects’ commitment to the team, development activities, transaction volume, liquidity status and network security.
This change made by Binance to the Tracking and Seed Tags aims to better inform and update users on the exchange. cryptocurrency marketIt is part of the goal of reaching a healthy and sustainable structure.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
