Chances of losing altcoins on binance

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As one of the most liquid and globally accessible exchanges, Binance wields a lot of power. Lately though, those pumps have been diminishing due to trader fatigue exacerbated by an increase in frequency of new listings. While any new coin added to Binance can expect an immediate jump in price, the extent of the Binance bounce appears to be waning. Up until recently, a coin could expect to soar in price off the news and then keep rising for hours or even days after trading commenced on the platform. Over the past chances of losing altcoins on binance, the trajectory taken by new coins has changed. The price is still sure to soar, but now its appreciation is typically short-lived, and more akin to chaances of a classic pump and dump. Traders, on the other hand, who have had little to crow altckins in a lengthy bear market, tend to be very fond of the resultant spike, which provides an opportunity to make — or lose — a lot of crypto in very little time.

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Last Updated on March 21, Binance, one of the largest cryptocurrency exchanges in the world, recently published a report on the correlation between altcoins, Bitcoin BTC , the U. These results cover not only , but the previous year in cryptocurrency. But, this report notes that these connections are fading. These assets may soon stand apart from one another.

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As one of the most liquid and globally accessible exchanges, Binance wields a lot of power. Lately though, those pumps have been diminishing due to trader fatigue exacerbated by an increase in frequency of new listings. While any new coin added to Binance can expect an immediate jump in price, the extent of the Binance bounce appears chances of losing altcoins on binance be waning. Up until recently, a coin could expect to soar in price off the news and then keep rising for hours or even days after trading commenced on the platform.

Over the past month, the trajectory taken by new coins has changed. The price is still sure to soar, but now its appreciation is typically short-lived, and more akin to that of a classic pump and dump. Traders, on the other hand, who have had little to crow about in a lengthy bear market, tend to be very fond of the resultant spike, which provides an opportunity to make — or lose — a lot of crypto in very little time.

On April 4, Groestlcoin tripled in price, and then doubled again in the space of 10 days, eventually doing a 5x. Cardano, which already had high liquidity on other major exchanges, grew by a third after its Binance listing.

Then, in May, Binance doubled its monthly listing ratio from four to. All of these coins pumped in price — even supposed stablecoin Trueusd — but often the effects were short-lived. By the time Civic opened for trading, for instance, it had almost returned to its pre-announcement price.

It is the prerogative of exchanges to decide which coins they should list and how. In the case of platforms such as Kucoin and Binance, however, the novelty of a weekly listing has turned into the normality of an often daily listing. Even the bots seem to be getting tired of pumping the price of new Binance coins. Once again, its chart followed the same pattern as other recent additions such as Civic, with a drop-off as fast as its ascent.

Binance listings are good for a lot of things, but sustaining a new price floor for digital assets is not necessarily one of. Do you think Binance is losing its ability to inflate newly listed coins? Let us know in the comments section. Need to calculate your bitcoin holdings? Every year, Bitcoin faces a new foe intent on crippling it by undermining the foundations it was built.

From… read. Banking services platform Cashaa has seen significant growth in crypto trading volume in India since it began offering INR deposits… read. It’s long gone. He’s previously written whitepapers for blockchain startups and is especially interested in P2P exchanges and DNMs. Share this story:.

Dec 20, Dec 19, Dec 18, Hegemony and Empire 18 hours ago. Bitcoin Gained 8.

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