coinmarketcap

CoinMarketCap Report: Most New Tokens Listed on Four Major Cryptocurrency Exchanges in 2024 Perform Poorly

ChainCatcher news, the cryptocurrency market data provider CoinMarketCap released a report indicating that as of June 25, data shows that the four major cryptocurrency exchanges Binance, Bybit, OKX, and Bitget have seen new token projects listed in 2024 affected by market conditions, with most projects performing poorly since their initial listing.In addition to external market conditions, their different listing strategies may also be one of the reasons for the performance differences of the tokens listed by the four exchanges. For example, Bitget and Bybit have listed the most tokens this year, with Bitget listing over 310 tokens and Bybit listing over 130 tokens, focusing on memecoins and related sectors. This strategy also aims to actively cater to the market's demand for highly volatile tokens this year, although it has its drawbacks. These tokens often come and go quickly, resulting in approximately 80% and 70% of new tokens on these two exchanges being at a loss overall.Binance, as the industry leader, has adopted a different strategy, listing a relatively low number of tokens, around 30, possibly to take a more cautious approach and conduct thorough due diligence before listing projects. However, even so, Binance has not been immune to the overall market's downturn, with about 50% of new projects currently experiencing negative ROI. Moreover, the projects listed on Binance generally have larger market capitalizations, and these negative ROIs will have a greater impact on the overall market. This also highlights the universality of the current market slump from another perspective.Looking at the market in the second half of 2024, many opportunities are already visible, whether it is the supply shock after the halving, the first interest rate cut by the Federal Reserve since 2021, or the upcoming U.S. election where both Trump and Biden have expressed support for the cryptocurrency industry, all of which will provide new momentum for the cryptocurrency market.
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