According to the research, the tokens listed by the crypto money exchange Binance increase by an average of 41% in one day.
Research by Ren & Heinrich reveals the reason why Binance is the most dominant cryptocurrency exchange in the world.
Prices Increase With Binance’s Listing
According to an analysis by crypto investor Ren & Heinrich, cryptocurrencies listed on Binance have increased by an average of 73% in the first 30 days.
Analyzing 26 cryptocurrencies over 18 months, the report revealed that the listing rose 41% on one day and 24% on the third day.
The research findings provide evidence of a “Binance effect”. It was also frequently mentioned that there was a “Coinbase effect” in the listings made by the largest stock exchange in the USA.
Research by crypto analytics firm Messari in April 2021 showed that tokens listed on Coinbase experienced a 91% price increase in the first five days.
This research by Ren & Heinrich may be that Binance’s emergence as a global crypto exchange means that the token listings on the exchange are attracting a lot of attention among speculators.
“In most cases, Binance listings have a positive impact on the price of the coin”