Binance recently launched 18 altcoins including AMB, ARK, BTS, DREP, FTT, GFT, JASMY, LOOM, MLN, OAX, OMG, PERL, PNT, SNM, SRM, VGX, WRX, and YFII on 2023-05-10. announced that it will move it to the innovation zone.
These altcoins will still remain listed on Binance. Moving these altcoins to the innovation zone shows that they carry a high risk.
The innovation zone was normally an area where new altcoins were listed and their development monitored. However, the situation is slightly different for these altcoins.
From time to time, Binance detected altcoins that did not meet the listing requirements and delisted from time to time. Previously, while delisting an altcoin, a direct announcement was made and many investors were victimized due to the sudden price drop.
"Second Chance for Altcoins"
Binance has given them a second opportunity by moving these 18 altcoins, whose development has stopped and do not meet the listing requirements, to the innovation zone.
Those who continue to develop while trading in this region will remain listed on Binance, but those who cannot continue to develop will be completely delisted. Because they are in the innovation zone, those who buy these altcoins will be aware of the risks.
It seems that Binance aims to both provide a second opportunity to projects and warn investors against risks by adding a new phase regarding the delist decision.
After the decision on 18 altcoins, Binance CEO Cz said that this is an intermediate step and projects can be delisted if they do not improve themselves.
"Rather than directly delisting projects that have stalled as some have suggested, we will move them into the innovation zone. If they still don't fix themselves, we may delist them. One more intermediate step."
