Crypto exchange Binance has announced new decisions affecting five altcoins. The exchange will list MarsCoin (MARSCOIN) on the spot market, while AVA, GNS, SCR and TOWNS have been added to the Monitoring Tag list, which includes tokens facing a higher risk of delisting.
MARSCOIN trading will begin on September 4 at 16:00 TRT. Binance users will be able to trade the token against USDT, USDC and TRY.
Meanwhile, Binance has decided to place four projects under closer monitoring. AVA, Gains Network (GNS), Scroll (SCR) and Towns Protocol (TOWNS) will now be tracked under the exchange’s Monitoring Tag framework.
Binance to list MARSCOIN on the spot market
According to Binance’s September 4 announcement, MARSCOIN will be listed on the spot market today. Trading will begin at 16:00 TRT.
Three new trading pairs will be available:
- MARSCOIN/USDT
- MARSCOIN/USDC
- MARSCOIN/TRY
MARSCOIN withdrawals will open on September 5 at 16:00 TRT. Binance also said no listing fee was charged to the project.
MarsCoin, which operates on BNB Chain, is described by Binance as a meme token. The token was previously available through Binance Alpha.
Once spot trading begins, MARSCOIN will be removed from Binance Alpha. Tokens held in users’ Alpha accounts will be transferable to their spot accounts. Binance will also complete this transfer automatically within 24 hours.
MARSCOIN will carry a Seed Tag following the listing. Binance uses this label for newer projects that may involve higher volatility and risk.
Delisting risk rises for AVA, GNS, SCR and TOWNS
In a separate announcement on the same day, Binance added four altcoins to its Monitoring Tag list.
The affected tokens are:
- AVA (AVA)
- Gains Network (GNS)
- Scroll (SCR)
- Towns Protocol (TOWNS)
A Monitoring Tag does not mean that a token has been officially delisted. However, Binance states that tokens carrying this label face a higher risk of failing to meet its listing standards and could eventually be removed from the platform.
The exchange will regularly review the four projects. Factors including development activity, trading volume, liquidity and network security will be taken into account.
Binance will also assess the activity of project teams, their communication with users and their responses to the exchange’s due diligence requests. Significant changes to token supply and tokenomics will also form part of the review process.
For now, trading in AVA, GNS, SCR and TOWNS will continue. Binance also said other services linked to these tokens will not be affected by the current decision.
The announcements mark two contrasting listing-related decisions from Binance on the same day. While MARSCOIN is moving from Binance Alpha to the spot market, delisting risk has increased for four existing altcoins.
