$VITE Tagged for Monitoring: Is There a Chance of Recovery?

Removing the Monitoring Tag for token $VITE on Binance exchange depends on the exchange's periodic assessment process based on specific criteria. If the VITE project improves and meets these criteria, the possibility of removing the Monitoring Tag is entirely possible.

Binance's assessment criteria include:

• Project team commitment: The level of involvement and continuous development of the development team for the project.

• Quality and frequency of development activities: Regular updates and improvements to the project's technology.

• Trading volume and liquidity: The level of trading and ease of buying and selling of the token on the market.

• Network stability and security: The ability to resist attacks and maintain stable operations.

• Level of community communication: Transparency and effective communication with users and investors.

• Response to due diligence requests: Binance's ability to provide information and cooperate during the audit process.

• Evidence of fraudulent or unethical behavior: Avoid fraudulent or unethical activities.

• Contribution to a sustainable cryptocurrency ecosystem: Contribute to the overall development of the cryptocurrency market.

If VITE shows significant improvement in the above areas, Binance may consider removing the Custodian Tag. In fact, Binance has removed Custodian Tags for other tokens after they met the criteria. For example, on July 1, 2024, Binance removed Custodian Tags for Enzyme (MLN) and Horizen (ZEN) after evaluating their performance positively.