While Binance, the world’s largest cryptocurrency exchange, continues to list altcoins and launchpoll, investors are also investigating altcoins that have the potential to be listed on Binance.
Because the prices of altcoins listed in Binance futures or spot transactions generally skyrocket and big gains are made.
While altcoins achieved high gains after Binance listings, they also experienced sharp declines afterwards.
At this point, according to cryptocurrency research firm HC Capital, all new tokens listed on Binance in 2024 have experienced a sharp decline from ATH.
According to the list made by HC Capital, AEVO, PORTAL, STRK, SAGA and DYM fell by more than 80%; AXL, MANTA, OMNI, PYTH, PIXEL, TNSR and ALT fell more than 70%.
Apart from these
AI, BOME, WIF, XAI, JUP, METIS, REZ and ETHFI more than 60%;
TAO, ENA and Bounce Bit (BB) more than 50%;
ZRO, RON and NOT more than 40%;
IO and ZK, on the other hand, dropped by more than 30%.
“All tokens dropped from ATH due to the following reasons:
Market Volatility: Initial excitement and speculation. Low Volatility: Limited supply causing price fluctuations. High FDV: Overvaluation leading to corrections.”
According to HC Capital, all new tokens listed on Binance in 2024 have fallen sharply from ATH. AEVO, PORTAL, STRK, SAGA and DYM have fallen by more than 80%, AXL, MANTA, OMNI, PYTH, PIXEL, TNSR and ALT have fallen by more than 70%, AI, BOME, WIF, XAI, JUP, METIS, REZ and ETHFI… pic.twitter.com/ljiPPT8794
— Wu Blockchain (@WuBlockchain) June 24, 2024
*This is not investment advice.