Altcoin listing on Binance leads to their rise in price by 41% on average
At the same time, after 22 days, asset prices begin to decline
09.01.2023 - 10:55
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What’s new? Analyst Ren & Heinrich conducted a study on the impact of the listing on the cryptocurrency exchange Binance on the further price of tokens. According to his findings, on the first day after listing, the value of assets will rise by an average of 41%, but after 22 days, the rate begins to decline. Ren & Heinrich wrote about this in a publication on the Medium platform.
What else is known? In his study, the analyst looked at 26 coins listed on Binance over the past year and a half. The average price increase for all assets on the first day of listing was 41%, by the third day the average price increase was at 24%. Assets showed positive dynamics for 22 days, after which they went down from the starting price.
Ren & Heinrich concluded that in most cases, listing on Binance has a positive effect on the price of cryptocurrencies, and the strongest growth of assets is shown on the first day. Subsequently, the rate depends on the prospects and activities of the project itself. That said, tokens added to the listing during a bull market had better performance than tokens listed in the current bear market, the analyst added.
In December 2022, the price of the MAGIC token rose by 75% after the listing was announced on Binance. In October, the price of the Osmosis (OSMO) token jumped by 24% after listing on Binance’s Innovation Zone. In the same month, the price of the token of the Aptos (APT) blockchain platform jumped by 10 000% immediately after the opening of trading on Binance.
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