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The times of bullish trade listings could also be over.
I spent the morning reviewing value knowledge for each coin listed on Binance and Coinbase because the begin of final yr. The outcomes are tough.
In complete, there have been 84 new listings throughout each exchanges — 45 on Binance and 40 on Coinbase.
As of this morning, solely 12 of these listings have elevated in worth from their preliminary commerce value on both platform.
On the chart beneath, every circle represents a unique coin itemizing, beginning on the far left in January 2024 and ending on the proper with the newest new addition on Coinbase, VVV.
As you’ll be able to see, VVV’s 40% collapse on its checklist value — regardless of its rally in its first few hours of commerce — shouldn’t be an outlier.
Not proven: MOVE’s itemizing on Binance
Since December, greater than a dozen listings have suffered the identical destiny. MOODENG, MOG, MOVE, ACX, ORCA, GIGA, ME, TURBO, VELO, USUAL, AIXBT, CGPT, COOKIE, PNUT and TRUMP have all lose worth since hitting both Coinbase or Binance — in lots of circumstances by greater than two–thirds.
After all, there have been winners. AERO, the native token for Base liquidity hub Aerodrome, is up 640% because it was listed on Coinbase in February final yr.
