"Don't worry everyone, there might be a reason for Binance to act like that."
Cryptocurrency giant Binance announced the addition of 10 additional digital assets including Monero (XMR), Zcash (ZEC), Horizon (ZEN), Vai (VAI) and Aragon (ANT) to their Monitoring Tag List.
The digital asset that will be subject to regular review will be closely monitored by Binance, so investors or traders should be careful as the crypto exchange may delist it if it does not comply with the required criteria such as network stability, trading volume and others.
So here it can be seen that Binance is able to negatively affect the price of the tokens mentioned above as it may hinder liquidity including causing extreme potential reputational damage.
In addition, Binance also removed GMX (GMX) and SushiSwap (SUSHI) from the crypto-focused Seed Tag list in its early stages of development , so both assets saw little or no volatility.
OKX also shifted its focus to privacy coins following the removal of XMR/BTC, DASH/BTC, ZEC/BTC and other spot trading pairs from its platform.
However, such digital assets have been on the radar of watchdogs for some time, where Dubai's Virtual Asset Regulatory Authority (VARA) in February 2023 banned all activities with XMR, ZEC and other tokens.
Following the European Banking Authority in May 2023 urging crypto organizations to remain vigilant against customers using privacy coins, Binance wants to stop providing its services in Italy, France, Spain and Poland.
