Three altcoins — BakeryToken (BAKE), IDEX (IDEX), and Self Chain (SLF) — have been placed under Binance’s Monitoring Tag, signaling a potential risk of delisting if they fail to meet the exchange’s stringent listing criteria.
The announcement, made on July 7, follows Binance’s routine token review process. According to the exchange, the decision is based on several factors, including the team’s commitment, development activity, liquidity, technical stability, and community engagement.
“Being assigned a Monitoring Tag does not automatically lead to delisting. However, it serves as a warning that the token is under close scrutiny and may be delisted if it fails to improve,” Binance stated.
Notably, users who wish to continue trading BAKE, IDEX, and SLF on Binance Spot or Margin are now required to complete a risk assessment quiz every 90 days and accept the platform’s updated Terms of Use. This measure aims to ensure users are fully informed of the risks associated with trading these tokens.
Following the announcement, all three tokens recorded modest declines. BAKE dropped 5.58%, IDEX fell 3.45%, and SLF slipped 3.29% — though each had already been in a downward trend prior to the news. Over the past 30 days, BAKE has plunged 66.4%, SLF dropped 54.9%, and IDEX declined 25.1%.
Being added to Binance’s Monitoring Tag list puts the future of these altcoins in jeopardy. In previous cases, tokens that received the tag were later delisted, often followed by sharp price drops. To avoid a similar fate, BAKE, IDEX, and SLF will need to demonstrate stronger development activity and community support to maintain their listings on the world’s largest cryptocurrency exchange.
