Binance has added Movement Labs’ native token, MOVE, to its Monitoring Tag list, citing increased volatility and risk. The decision comes on the heels of the protocol‘s recent rebranding to “Move Industries” and the removal of co-founder Rushi Manche. The monitoring tag acts as a red flag to investors, warning that the token could face potential delisting if performance or compliance deteriorates further.
According to Binance, tokens with the monitoring tag are “subject to constant evaluation” and may exhibit “notably higher volatility and risks” than other listed assets.
Other Tokens Under Scrutiny
MOVE is not alone. Binance has extended the monitoring tag to several other tokens, including:
- Stella’s ALPHA
- Hifi Finance’s HIFI
- LeverFi’s LEVER
- PORTAL
- Rei Network’s REI
These tokens will be continuously reviewed under Binance’s internal guidelines. If they fail to meet standards for liquidity, development activity, or regulatory compliance, they may be delisted.
Market Reaction: Steep Declines for Most Tokens
Following the announcement, MOVE’s price dropped over 12% in just 24 hours, trading at $0.15 at press time. Since the start of the month, MOVE has lost nearly 50% of its value, largely due to a market maker scandal that rocked investor confidence.
Other tokens weren’t spared:
- REI: Down 12.5%
- ALPHA: Fell over 5%
- PORTAL: Took the hardest hit with a 17.1% plunge
Meanwhile, HIFI and LEVER bucked the trend with modest gains of 4.4% and 12.8%, respectively.
What the Monitoring Tag Means for Traders
Binance users wishing to trade tokens with the monitoring tag must now:
- Complete a quiz every 90 days on the Spot and Margin platforms
- Acknowledge the risks
- Accept updated terms of use periodically
This added compliance step is designed to ensure users understand the heightened risks associated with these assets.
