Coins listed on Binance through the community coin vote show 24% price decrease

patz22

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Quote from: matchi2011 on March 01, 2020, 09:02:00 AM

Quote from: patz22 on March 01, 2020, 06:57:45 AM

~

For real, this kind of act is being around this business, once the project able to reach exchange from community votes those bounty hunters are there
to sell and dumped the rewards they've received from the development team, project will suffered as it will be a continuous selling pressures than for investors to ride in without any potentials but if in case there's certain kind of offers from the team where new investment will be derive inside.

And with that, we cannot blame the team who handles the project to hold the rewards for a year and I have seen some projects who only give 10% each month just like Quaras wherein they only do monthly distribution for a year, anyways, when it comes to binance community voting, I am rooting for ETN, it is indeed a good project and ICO of the year 2017, developments over and over.

kindbtc

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I do not know why but this binance listing curse seems like a real think, there were a lot of projects that i followed from their tokensale events to listing that were doing fine but when they got listed on binance there bad days started and they dumped as hard as possible, i do not know the reasons for this but most of the tokens you can check are multifold down since they started trading on binance.

gielbier

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Making Smart Money Work

I think if the coin list through voting it feels less good because it relies on the community, but if the coin is really listed by binance or launching IEO, maybe the coin can go up after open trade.

thisnewcoin

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Quote from: grubal on March 01, 2020, 09:52:02 AM

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thisnewcoin

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This is very normal nowadays! Every announcement from Binance exchange about new coin listing creates a good hype in crypto markets and to all traders! Even I turned on the notification in Binance twitter, so, I can get all the announcement at the first stage, so, I can buy the token! Almost every community voting competition, both coins price increases highly! So, if you buy those coins before the competition then you will get 20-30% profit surly!

Jannyh

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I also noticed that especially after following the voting and listing of MBL, it's price went down drastically, I also noticed some coins also listed fell in price, right now,I wouldn't really judge because the market isn't as stable ,I believe when the market is stable there will be an upward movement for such coins,but till then let's keep a close watch.

grubal

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10:36 AM · Feb 27, 2020·Twitter Web App

luckyflop

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Quote from: nreal on March 01, 2020, 09:16:28 AM

I have a feeling every vote to list a coin on Binance is like a game. The fastest people will win, when they can buy before prices rise too high and sell before going down. Up to now, I have not dared to buy any coin voted to be listed on Binance

Even losing projects are listed in binance. I don't know what purpose they created the voting contest, but I found it completely pointless. In addition Fomo the altcoins listed in the new exchange are an equally stupid, price that will inevitably fall down shortly after being listed. I have seen hundreds of projects like that

nreal

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I have a feeling every vote to list a coin on Binance is like a game. The fastest people will win, when they can buy before prices rise too high and sell before going down. Up to now, I have not dared to buy any coin voted to be listed on Binance

Ridwan Fauzi

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Actually if you intens to figure this thing you will be aware a long time ago. Even I will say it that this thing will be a culture in cryptocurrency industry, I mean when a coin has been successfull being listed on the exchange then you just need several times to see that its price will be decreasing. But before that the price will be pump first to attract many people but after that you know by yourself.

I don't know how to avoid it, because sometimes we need to support the new coin if the coin has a good function for the utilization but in the fact we will face this thing. And seem like this will be hard to change. So as many people out there who have known cryptocurrency they will avoid to invest to new coin, they will choose the old coin especially bitcoin to avoid getting lose when they spend a lot of money.

matchi2011

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Quote from: patz22 on March 01, 2020, 06:57:45 AM

I believe that most tokens or coins who got listed in binance for free have that struggle of dump that is because it is voted by the community and this community mostly are from participants of their bounty or airdrop in which they would be selling it once it got listed and I am not saying all but there are only few who will hold it

For real, this kind of act is being around this business, once the project able to reach exchange from community votes those bounty hunters are there
to sell and dumped the rewards they've received from the development team, project will suffered as it will be a continuous selling pressures than for investors to ride in without any potentials but if in case there's certain kind of offers from the team where new investment will be derive inside.

Yudhisthir

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If you look at the price, both of VIDT and MovieBloc coin have a sharp growth after their announcement as the two option for community voting. Both of them went through a correction but still their price lies twice more than they were before the announcement. Similarly the prices would increase when the coin would win the voting and remain high until it gets listed on binance. And after that listing, people would be looking to tap their profit, which would bring their prices down. But be sure they are much more higher than what the price were before the announcement.

mdzahed134

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I know about MBL coin and i think we shouldn’t expect too much from all of those are getting free listing by vote you mentioned a lot of tokens. MBL never deserved to list most biggest exchange Binance even if they will go list way of paid. Those hype coins are profitable for short term trading.

TheClownSong

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Quote from: Kunnu on February 29, 2020, 09:16:21 AM

I think If a coin/token is listed on binance through voting then we may expect positive results of these coins/tokens because it shows us a clear sign of reliability after all the thinking of crypto community really matters that's why I believe voting procedure is absolutely a nice way and it's really good to see that some big cryptocurrency exchanges are adopting voting procedure.

Voting is a popular way of exchanging coins and having a large community. Exchangers certainly hope the transaction value will increase and also the number of members will increase and with the voting campaign, I think this is an effective way to achieve that goal

patz22

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I believe that most tokens or coins who got listed in binance for free have that struggle of dump that is because it is voted by the community and this community mostly are from participants of their bounty or airdrop in which they would be selling it once it got listed and I am not saying all but there are only few who will hold it

CryptoTech_

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Quote from: Zidan Bst on February 29, 2020, 06:34:21 AM

Maybe the price can easy to dump because the project don’t pay to get listed on there.
Based on the fact, As a Trader want to get profit can Buy on rumors and sell on news. This is one of the fundamental Analys.

Not pay ? Then do you think if he pays the price will always be good ? No.
It all depends on the project itself, there are also tokens that are listed in binance without paying a penny but the price is good.
For example: OGN, didn't pay the listing fee but the price is good so far

pakhitheboss

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Quote from: Xangle on February 28, 2020, 01:20:04 AM

Coins listed on Binance through the community coin vote show a price decrease of an average 24% after 7 days
https://xangle.io/project/MBL/disclosures/5e53368aaa40c06ddf417e9f

Coins listed on Binance through the community coin vote had the highest earnings on the day of the announcement – after listing, token prices showed a tendency to decline. This shows the ‘Sell on News’ effect where price increases before official announcement and decreases after.
This analysis was conducted to investigate the effect of voting on listing, which is becoming a trend among exchanges.

According to crypto disclosure platform Xangle, MovieBloc announced that it was listed on Binance after a coin vote on the 21st. Six days after the listing, Moviebloc was down 41%.

Six coins, NKN, ARPA, CTXC, VITE, DREP, and MovieBloc, have been successfully listed on Binance through the coin vote.

The average price increase rate of the six coins on the day of the voting announcement was 60.08% higher compared to 24 hours ago. On the day of listing, the price fell 7.45%; after 7 days, it decreased by 24.07%. NKN was the only coin that showed a price increase.

Most of these coins were launched using the Binance Launchpad platform. Most of them did not even achieve the set funds and shortly afterwards were listed on the exchange, which eventually led to there decline. The hype is over now..

tiang_tower

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Quote from: tulpe123 on February 29, 2020, 09:29:10 AM

Binance lisitng effect is working but not for a long time

I think it's a natural thing, because all coins have also experienced price declines, so don't assume that if you are already listed in the exchange binance, the coins will always increase, because supply and demand in the market always happens and it's not always the same, and the goals from the vote it is for listed only not to make the price of coins go up.

Kotone

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Quote from: Zidan Bst on February 29, 2020, 06:34:21 AM

Maybe the price can easy to dump because the project don’t pay to get listed on there.
Based on the fact, As a Trader want to get profit can Buy on rumors and sell on news. This is one of the fundamental Analys.

That's not true I think. Even paid or free coin price will depend on its traders and investors. On the other hand, fundamental analysis also become a sort of a trend now, while everybody causing a panic heart attack when some coins just dump fast is really a sign of high manipulation on the market. Anyway that's how it is.

fuer44

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indeed it cannot be a 100% guarantee, but at least the results of the voting show that the community knows that tokens will have good prospects at exchangers such as binance. although in the end the price will go down, it's natural because the sales volume will certainly be higher than the purchase after the token on the listing. but it is better than listing to exchangers who are not well known and even rarely used by people in general and eventually coins or tokens will really die.

Topic: Coins listed on Binance through the community coin vote show 24% price decrease (Read 316 times)