Binance Adds BICO and CVC to Its Monitoring Tag List—If You’re Holding Altcoins, Take a Look
Binance announced today that BICO and CVC will be added to its monitoring tag list starting October 9. The reason: their volatility is significantly elevated, and they could be delisted down the line.
First, let’s look at the size of these two coins. CVC has a market cap of around $25.9 million, while BICO is at about $20 million. Both were once well-known projects, but they’re now increasingly on the sidelines.
A lot of newcomers don’t know what a monitoring tag is. Simply put, it’s an exchange giving a project a yellow card. It means the project isn’t meeting the mark in areas like liquidity, development progress, or team activity. The platform will keep evaluating it, and if things don’t improve, it could be delisted.
You know what usually happens to the price after an announcement like this. I won’t spell it out.
I want to use this as a chance to talk about something bigger.
In the current market, BTC is under macroeconomic pressure, and major coins are down 3% to 6%. Money is flowing into the top projects, and the smaller the coin, the fewer buyers there are. A lot of old altcoins may look cheap, but their liquidity is practically drying up.
I make a habit of reviewing my holdings once a month. I look at three things: Has the project made any meaningful updates in the past six months? Has its average daily trading volume fallen to a dangerous level? Is the team still communicating? If it fails on two out of three, I’m out—no matter how much I’m down.
Don’t get emotionally attached to a project that’s no longer trying to do things right. Your principal is worth more than your stubbornness.
If you’re holding either of these two, it’s time to make a decision today.
Binance announced today that BICO and CVC will be added to its monitoring tag list starting October 9. The reason: their volatility is significantly elevated, and they could be delisted down the line.
First, let’s look at the size of these two coins. CVC has a market cap of around $25.9 million, while BICO is at about $20 million. Both were once well-known projects, but they’re now increasingly on the sidelines.
A lot of newcomers don’t know what a monitoring tag is. Simply put, it’s an exchange giving a project a yellow card. It means the project isn’t meeting the mark in areas like liquidity, development progress, or team activity. The platform will keep evaluating it, and if things don’t improve, it could be delisted.
You know what usually happens to the price after an announcement like this. I won’t spell it out.
I want to use this as a chance to talk about something bigger.
In the current market, BTC is under macroeconomic pressure, and major coins are down 3% to 6%. Money is flowing into the top projects, and the smaller the coin, the fewer buyers there are. A lot of old altcoins may look cheap, but their liquidity is practically drying up.
I make a habit of reviewing my holdings once a month. I look at three things: Has the project made any meaningful updates in the past six months? Has its average daily trading volume fallen to a dangerous level? Is the team still communicating? If it fails on two out of three, I’m out—no matter how much I’m down.
Don’t get emotionally attached to a project that’s no longer trying to do things right. Your principal is worth more than your stubbornness.
If you’re holding either of these two, it’s time to make a decision today.