The post Major exchange listings may not be so bullish after all appeared on BitcoinEthereumNews.com.

Today, enjoy the Empire newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Empire newsletter. The Big Leagues Major exchange listings are milestones for cryptocurrencies: More exposure means more potential liquidity — which should convert to higher prices. And many times that’s the case. I spent the morning going over new listings on Binance and Coinbase so far this year, and I found that out of the 42 non-stablecoin tokens to hit either platform: About 80% rose more than 10% at some point since their announcements.  Nearly half surged by more than 50%. Almost 30% more than doubled. Granted, not all of the tokens newly supported by Binance and Coinbase this year were already trading elsewhere. Around 35% — 15 tokens — were either listed or announced to be listed on the same day as their initial launches. Whatever effect listings had on those particular tokens is harder to gauge. Tracking each freshly-listed tokens from their initial support until today however shows that it’s quite tough for debutants to hold onto bumps associated with Coinbase and Binance listings. Only 12 out of the 42 (~29%) have gained value since they reached either exchange — but three of those are memecoins NEIRO, TURBO and BABYDOGE, which Binance listed today, triggering pumps of between 15% and 60%. Two outliers were removed: AERO and BOME rallied 4,500% and 1,060%, respectively, and would dwarf the others. They’ve since come down to 1,330% and 250%. The chart above shows how this year’s Binance and Coinbase listings have trended.  The green dots indicate the peak returns for each token following their support by either exchange — how much each crypto rallied at some point after the announcement — while the purple dot shows its return as of this morning. Notice how…

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Filed under: News - @ September 16, 2024 1:28 pm