Altcoin projects listed on Binance, the world’s largest crypto exchange by volume, gained over 70% in the next 30 days, according to new reports.
Binance introduced these 20 altcoin projects to the world in 2022
Various altcoins from Kadena to Apecoin or Aptos have thus entered the radar of the global investor class over the past year, as reports have revealed a marked increase in the prices of projects listed on Binance. A report by crypto investor Ren & Heinrich, who has been tracking 26 cryptocurrencies for 18 months, shows that projects have gained 41% in one day after listing and 24% in the third day. The altcoin projects that opened to the world from the Binance list last year were as follows:
- ApeCoin (APE)
- Biswap (BSW)
- Terra (Luna)
- Optimism (OP)
- Stargate Finance (STG)
- GMX (GMX)
- aptos (APT)
- Moonbeam (GLMR)
- API3 (API3)
- Acala Token (ACA)
- WOO Network (WOO)
- Primer (ASTR)
- Kadena (KDA)
- Osmosis (OSMO)
- MAGIC (MAGIC)
- Mobile Coin (MOB)
- Nexo (NEXO)
- Lido DAO (LDO)
- Alchemy Pay (ACH)
- Immutable X (IMX)
#Binance will list Glimmer $GLMR @MoonbeamNetwork https://t.co/syF1Hslcbx
— Binance (@binance) January 11, 2022
In the meantime, let’s include the contributions of Binance’s Launchpad platform. There are a number of altcoin projects that climbed to the top 150 by market capitalization from Launchpad. ANC, HFT, GAL, ALPINE, LOKA, GMT and HOOK are examples in this category. Details on Hooked Protocol (HOOK), the latest debut project cryptocoin.comWe transferred from
‘Binance Effect’ means 41% price increase for newly listed tokens
A study by Ren & Heinrich suggests that Binance’s individual token listings are now attracting much more attention, at least among speculators. According to the report, following 26 cryptocurrencies for 18 months, the report shows that projects gained 41% in one day and 24% in the third day after being listed on Binance. Ren & Heinrich’s report provides evidence of a “Binance effect” that benefits tokens, at least in the short term, and is similar to a similar “Coinbase effect”. The term was designed to describe the price spikes that occurred shortly after it was first listed on this popular exchange in 2021.
I analyzed 680 crypto funding rounds to learn where institutional investors put their money.
Relevant for every #CryptoInvestor who wants to know which sectors and use cases received most funds in 2022 and what implications this might have??https://t.co/hRQ2CJ4Reg
— Ren & Heinrich | Researcher | Investor | Writer (@ren_heinrich) December 29, 2022
A study by crypto analytics firm Messari in April 2021 found that token listings on Coinbase led to a 91% price increase in the first five days of trading. This week’s research by Ren & Heinrich suggests that Binance’s emergence as the dominant global crypto exchange may mean that individual token listings are now garnering much more attention, at least among speculators.
“In most cases, a Binance listing has a positive impact on the price of a cryptocurrency,” Ren & Heinrich wrote. On Thursday, the exchange’s trading volume of about $7.5 billion was roughly three times that of all other exchanges.
