Binance Moves 18 Tokens To Innovation Zone
Binance, the world’s largest cryptocurrency exchange, has announced that it will move 18 tokens into its Innovation Zone starting from May 10, 2023. The move is part of Binance’s ongoing efforts to offer its users a place to trade innovative projects with higher volatility and risk compared to other listed tokens.
#Binance will move the following assets into the Innovation Zone on May 10, 2023:
AMB, ARK, BTS, DREP, FTT, GFT, JASMY, LOOM, MLN, OAX, OMG, PERL, PNT, SNM, SRM, VGX, WRX, and YFIIhttps://t.co/IhPvXlmd0i
— Binance (@binance) May 10, 2023
High volatility tokens
According to the announcement, the tokens that will be moved to the Innovation Zone are AirDAO (AMB), Ark (ARK), BitShares (BTS), Drep (DREP), FTX Token (FTT), Gifto (GFT), JasmyCoin (JASMY), Loom Network (LOOM), Enzyme (MLN), OAX (OAX), OMG Network (OMG), PERL.eco (PERL), pNetwork (PNT), SONM (SNM), Serum (SRM), Voyager Token (VGX), WazirX (WRX), and DFI.Money (YFII).
Binance’s Innovation Zone was launched to provide a platform for trading tokens with high volatility and risk, which are not listed on the main platform. The tokens placed in the Innovation Zone will be closely monitored on their developments.
Binance’s periodic review considers various factors such as the commitment of the project team, the level and quality of development activity, trading volume and liquidity, stability and safety of the network from attacks, network/smart contract stability, level of public communication, responsiveness to periodic due diligence requests, evidence of unethical/fraudulent conduct or negligence, and contribution to a healthy and sustainable crypto ecosystem.
Trading in Innovation Zone
The exchange stated that other services related to these tokens will not be affected, and the Innovation Zone tagging for these tokens will be updated shortly after the announcement. Binance thanked its users for their support as it continues to build the crypto ecosystem in a transparent and sustainable manner.
The move into the Innovation Zone is a significant development for these tokens, which could potentially increase their exposure and liquidity. However, traders should exercise caution while trading in the Innovation Zone, given the higher volatility and risk associated with these tokens.
