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Over 80% of Recent Binance Token Listings Are in the Red — TradingView News
Over 80% of newly listed cryptocurrencies are in the red on Binance, the world’s largest cryptocurrency exchange in terms of trading volume.
Over 80% of tokens listed in the past six months have lost value since their listing, raising worrying implications for investors seeking the latest cryptocurrencies.
Of the 31 tokens analyzed, only five coins appreciated, including Memecoin (MEME), Ordi (ORDI), the Solana-based Jupiter token (JUP), Jito (JTO), and Dogwifhat (WIF), according to the alias Flow’s May , cryptocurrency researcher. 17 X messages:
The fact that more than 80% of newly launched tokens are in the red signals a challenging market environment, according to Anndy Lian, cross-government blockchain expert and author of NFT: From Zero to Hero.
Lian told Cointelegraph that the current state of the cryptocurrency market was described as calm, with some altcoins still trending despite a general lack of momentum overall. She added:
“Many of the projects listed on Binance may have a longer growth period, the growth may not be as instantaneous as the previous bull market.”
However, the new tokens on Binance are trading at a fully diluted average valuation of over $4.2 billion despite having no real user base. This can significantly limit their upside potential, according to pseudonymous researcher Flow:
“More often than not, tokens launched on Binance are no longer investment vehicles – all of their upside potential has already been taken away. Instead, they represent exit liquidity for insiders who take advantage of the retail sector’s lack of access to quality upfront investment opportunities.”
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