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Binance’s 2024 token listings are all in the red
The post Binance’s 2024 token listings are all in the red appeared on BitcoinEthereumNews.com. New assets listed on Binance are all in the red, despite the positive H1 performance. Binance is deliberately filtering solid projects, but even technology and solid teams is not enough to boost token performance. New tokens picked by Binance are all in the red, even after a relatively favorable market performance in 2024. New projects underperformed, despite the vetting by Binance. The exchange offers several listing tiers depending on market risk. Trading on Binance is skewed toward blue chips, with Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) and Solana (SOL) trading against Tether (USDT). Those market leaders make up around 80% of market volumes. Smaller coins and tokens makeup just under 20% of all trading, and may lack the liquidity to perform well and lock in gains. But Binance also added multiple VC-backed tokens, which turned into the worst performers. Projects like Wormhole (W) and AEVO lost close to 90% of their value in the past months. Performance of tokens listed on Binance YTD Since the beginning of 2024, a total of 30 tokens has been listed on Binance At the current state, most of them are showing decreases in performance to varying degrees pic.twitter.com/CdtWngUaYN — Coin98 Analytics (@Coin98Analytics) August 6, 2024 The listings included some of the top narratives in 2024, including AI, DeFi, the Toncoin ecosystem and other Web3 projects. None of those tokens outperformed, and instead suffered deep losses due to token unlocks and general selling. Binance, however, helped meme tokens outperform by concentrating liquidity. Pepe (PEPE), which was listed with a warning, ended up outperforming the VC-backed tokens, gaining around 800% in the year to date, even after corrections. Memes remained the best narrative in terms of net gains for the year to date. Not only are memes replacing utility projects, but the principles of forming…
The post Binance’s 2024 token listings are all in the red appeared on BitcoinEthereumNews.com.
New assets listed on Binance are all in the red, despite the positive H1 performance. Binance is deliberately filtering solid projects, but even technology and solid teams is not enough to boost token performance. New tokens picked by Binance are all in the red, even after a relatively favorable market performance in 2024. New projects underperformed, despite the vetting by Binance. The exchange offers several listing tiers depending on market risk. Trading on Binance is skewed toward blue chips, with Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) and Solana (SOL) trading against Tether (USDT). Those market leaders make up around 80% of market volumes. Smaller coins and tokens makeup just under 20% of all trading, and may lack the liquidity to perform well and lock in gains. But Binance also added multiple VC-backed tokens, which turned into the worst performers. Projects like Wormhole (W) and AEVO lost close to 90% of their value in the past months. Performance of tokens listed on Binance YTD Since the beginning of 2024, a total of 30 tokens has been listed on Binance At the current state, most of them are showing decreases in performance to varying degrees pic.twitter.com/CdtWngUaYN — Coin98 Analytics (@Coin98Analytics) August 6, 2024 The listings included some of the top narratives in 2024, including AI, DeFi, the Toncoin ecosystem and other Web3 projects. None of those tokens outperformed, and instead suffered deep losses due to token unlocks and general selling. Binance, however, helped meme tokens outperform by concentrating liquidity. Pepe (PEPE), which was listed with a warning, ended up outperforming the VC-backed tokens, gaining around 800% in the year to date, even after corrections. Memes remained the best narrative in terms of net gains for the year to date. Not only are memes replacing utility projects, but the principles of forming…
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