Binance, one of the world’s largest crypto exchanges, has shortlisted 10 altcoins for close monitoring, with potential for delisting.  

This review, set to take around 30 days, reflects Binance’s attempts to enhance market quality.

Binance Shortlists 10 Altcoins For Potential Delisting

Following its announcement to list GoPlus Security (GPS), Binance shared another update detailing extending its monitoring tags to 10 altcoins.

Specifically, Aergo (AERGO), Alpaca Finance (ALPACA), AirSwap (AST), Badger DAO (BADGER), BurgerCities (BURGER), COMBO (COMBO), NULS (NULS), STP (STPT), UniLend (UFT), and VIDT DAO (VIDT) are now on the list, effectively placing them on high risk of delisting.

“Tokens with the Monitoring Tag exhibit notably higher volatility and risks compared to other listed tokens. These tokens are closely monitored, with regular reviews conducted. Keep in mind that tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform,” Binance explained in a blog.

Accordingly, Binance has implemented a new requirement for users looking to trade any tokens marked on its Spot trading and Margin platforms. To gain access, traders must pass a risk-awareness quiz every 90 days. This measure ensures that users understand the risks associated with these tokens before engaging in trades.

The exchange emphasized that this shortlisting does not guarantee delisting. Binance will conduct periodic project reviews and decide whether to add or remove the Monitoring Tag. Notably, this decision will hinge on current findings after the review process.

Nevertheless, this assurance did not assuage token holders. In the immediate aftermath of this potential delisting announcement, the values of the 10 cited tokens dipped, posting double-digit losses as investors traded the news.

Notably, tokens with the Monitoring Tag present high risk due to concerns spanning regulatory uncertainty, low liquidity, or extreme volatility. Binance displays this tag on the corresponding Spot and Margin trading pages and the Markets Overview section. Additionally, the exchange shows a risk-warning banner whenever users interact with these tokens.

Citing community feedback, the leading exchange by trading volume said its monitoring tag would now be updated monthly. Nevertheless, it will continue to review the removal of Monitoring and Seed Tags quarterly. 

“New projects will be added in the first week of every month,” the exchange added.

By enforcing this requirement, Binance aims to educate and protect its users, ensuring they make informed decisions. The move reflects the exchange’s increasing focus on risk management and compliance in a growing regulatory environment.

Meanwhile, the drop seen across the affected tokens is unsurprising, presenting as a typical reaction to such announcements. For instance, in December, Binance’s decision to delist three altcoins sent affected tokens down a cliff to record double-digit losses.

Conversely, listing announcements have the opposite effect. BeInCrypto reported earlier how Binance exchange’s move to list GPS sent the token soaring by over 10%.

Nasdaq has officially submitted a 19-b 4 form to the SEC seeking approval to list and trade the Grayscale Hedera Trust (HBAR) shares. This filing is a standard step in the HBAR exchange-traded fund (ETF) approval process.

The exchange classifies the shares as Commodity-Based Trust Shares under Nasdaq Rule 5711(d). This aligns them with regulated investment vehicles like spot Bitcoin (BTC) ETF.

Grayscale HBAR ETF Awaits SEC Green Light

The filing marks the latest development in a series of efforts to bring Hedera into the regulated financial spotlight. The proposal was submitted under Section 19(b)(1) of the Securities Exchange Act 1934. This allows exchanges to request rule changes to list new financial instruments.

“The proposed rule change is designed to perfect the mechanism of a free and open market and, in general, to protect investors and the public interest in that it will facilitate the listing and trading of Shares that will enhance competition among market participants, to the benefit of investors and the marketplace,” the filing read.

Nasdaq’s move follows a similar application on behalf of Canary Capital. The asset manager has also been pursuing an HBAR-based ETF. 

Canary Capital first submitted an S-1 application on November 12, 2024. This was followed by a 19b-4 application in late February, marking its own advancement in the ETF approval pipeline.

At present, neither Grayscale’s nor Canary Capital’s HBAR ETF proposal has been published in the Federal Register. This means both remain in a preliminary review stage. 

The SEC is currently evaluating whether the filings meet procedural and completeness requirements before determining the next steps. Once published, the proposals will enter a 45-day initial review period, during which the SEC can approve, deny, or extend the evaluation timeline. If the SEC needs more time, it may extend the review process for up to 240 days before making a final decision.

If approved, the Grayscale and the Canary Capital HBAR ETF would offer investors a regulated pathway to gain exposure to HBAR without directly holding the asset. This reflects a growing trend of institutional interest in cryptocurrency-based investment products.

Meanwhile, HBAR previously saw a fleeting 10% price surge following the news of Nasdaq’s filing for Canary Capital’s ETF. Nonetheless, the latest development has failed to generate a similar market response. 

Instead, HBAR was down 6.8% over the past 24 hours. Its trading price stood at $0.23 at press time. Despite the decline, HBAR has still outperformed other smart contract platform cryptocurrencies, which have collectively fallen 8.8%, as per CoinGecko.

Bitcoin price started a fresh decline from the $95,000 resistance zone. BTC is back below $90,000 and might continue to move down.

• Bitcoin started a fresh decline from the $95,000 resistance zone.
• The price is trading below $92,000 and the 100 hourly Simple moving average.
• There was a break below a connecting bullish trend line with support at $88,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start another decline if it fails to stay above the $82,250 zone.

Bitcoin Price Dips Over 10%

Bitcoin price rallied above the $88,000 and $90,000 resistance levels. BTC tested the $95,000 resistance where it faced a strong resistance. The price failed to retain gains and started a fresh decline below $92,000.

There was a move below the $92,000 and $90,000 support levels. The price dived over 10% and traded below the 50% Fib retracement level of the upward move from the $84,500 swing low to the $95,000 high. There was also a break below a connecting bullish trend line with support at $88,000 on the hourly chart of the BTC/USD pair.

Bitcoin price is now trading below $90,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $85,000 level. The first key resistance is near the $86,600 level.

The next key resistance could be $88,500. A close above the $88,500 resistance might send the price further higher. In the stated case, the price could rise and test the $90,000 resistance level. Any more gains might send the price toward the $92,000 level or even $93,500.

More Losses In BTC?

If Bitcoin fails to rise above the $88,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $82,250 level and the 76.4% Fib retracement level of the upward move from the $84,500 swing low to the $95,000 high. The first major support is near the $80,000 level.

The next support is now near the $78,500 zone. Any more losses might send the price toward the $76,000 support in the near term. The main support sits at $75,000.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $82,250, followed by $80,000.

Major Resistance Levels – $88,000 and $90,000.