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Binance has questioned FTT, ZEC and JASMY.
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These tokens will be removed from the CEX if they do not meet their standards.
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The total market capitalization of tokens under surveillance is $4.32 billion.
Binance, the largest cryptocurrency exchange in terms of volume, has placed a number of digital assets under scrutiny. These include FTX Token, ZCash, and JasmyCoin. These altcoins would carry a higher level of risk and the exchange may delist them in the future.
Binance uses “Monitoring tags” for all altcoins that are under scrutiny. The exchange claims that these cryptocurrencies “have much greater volatility and risks than other listed tokens.” They use the monitoring tag to protect their investors from the increased volatility of these altcoins.
Binance has said that it regularly reviews these digital assets. If they do not meet the exchange’s standard, they may be delisted. The exchange updates its list of altcoins every quarter in the first week after researching the digital assets’ community, price movement, and other factors.
The total market cap of tokens that Binance monitors is $4.32 billion with a trading volume of $651.20 millions. Binance, however, has not revealed publicly its criteria for delisting. This raises concerns about the fairness of the exchange.
Tokens Under Monitoring: A Closer Look
JASMY, a digital asset that has been around for four years, is one of the most volatile on the market. It has fallen 99.57% since its peak of $4.99. The cryptocurrency is currently trading at $0.02138, down 4% over the last 24 hours. It has risen 312.03% within the past year. Considering its significant ups-and-downs, JASMY has indeed been a volatile coin.
Read about Binance’s launch of DEGEN futures trading, with a 50% price increase
FTT is a digital asset that reached an all-time high of $85.02 at the height of its popularity. The cryptocurrency is now trading at $2.22 – down 97.41% since its peak. ZEC, Convex Finance CVX and aelf (ELF) have similar figures.
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