: Binance lists 30 new coins in 2024, but most show a decline in performance

e, the leading cryptocurrency exchange in terms of trading volume, has listed 30 coins since the beginning of 2024. However, most of these new projects have shown a decline in performance.

Binance, the world's leading cryptocurrency exchange by trading volume, has listed 30 new coins since the beginning of 2024. However, the performance of most of these new projects has been mixed. positive.

Binance, the world's leading cryptocurrency exchange by trading volume, has listed 30 new coins since the beginning of 2024. However, the performance of most of these new projects has been unsatisfactory. .

Many of the new tokens listed on Binance have high valuations, a portion of which are backed by venture capital (VC) funds.

Many of the new tokens listed on Binance have high valuations, a portion of which are backed by venture capital (VC) funds.

Failure of Binance's New Listings in 2024

Failure of Binance's New Listings in 2024

According to data from Coin98 Analytics, among the 30 tokens listed by Binance this year, only Jupiter (JUP) recorded a price increase. Notably, most tokens suffered double-digit losses, especially those backed by large investors. Except for JUP, the FDV index (Fully Diluted Valuation - market capitalization if all circulating tokens are issued) of the remaining 29 coins all decreased significantly.

According to data from Coin98 Analytics, of the 30 tokens listed by Binance this year, only Jupiter (JUP) recorded a price increase. Notably, most tokens suffer double-digit losses, especially those backed by large investors. Except for JUP, the FDV index (Fully Diluted Valuation - market capitalization if all circulating tokens are issued) of the remaining 29 coins all decreased significantly.

Tokens supported by Binance Labs, including AI, MANTA, AXL, ENA, REZ, BB, and LISTA, have dropped from 44% to 90%. Other tokens supported by venture capital (VC) funds such as a16z, Paradigm, Coinbase Ventures, Galaxy and Pantera Capital also saw a decline.

Tokens supported by Binance Labs, including AI, MANTA, AXL, ENA, REZ, BB and LISTA, have dropped between 44% and 90%. Other tokens supported by venture capital (VC) funds such as a16z, Paradigm, Coinbase Ventures, Galaxy and Pantera Capital also saw declines.

However, Vinay, a Web3 developer, believes that looking at the independent performance of tokens may not be accurate, citing changes in the cryptocurrency market.

However, Vinay , a Web3 developer, said that looking at the independent performance of tokens may not be accurate, citing changes in the cryptocurrency market.

“This is a comparison to check the relative performance of projects listed on Binance compared to ETH & OP (one of the best examples from the web3 space in terms of growth). Compared to OP: 9/30 had positive performance, 4 almost unchanged. The worst performing coins were mainly listed in April, at which time the market was no longer attractive,”

“This is a comparison to check the relative performance of projects listed on Binance compared to ETH & OP (one of the best examples from the web3 space in terms of growth). Compared to OP: 9/30 have positive performance, 4 almost unchanged. The worst performing coins were mainly listed in April, by which time the market was no longer attractive,”

Based on this comparison, 9/30 compared projects showed positive performance, only the remaining 4 projects were relatively stable. This shows that although the general market tends to decrease, some projects still maintain stability.

performanceBased on this comparison, 9/30 projects compared positive, with only the remaining 4 projects remaining relatively stable. This shows that although the general market tends to decrease, some projects still maintain stability.

This analysis also shows that the worst performing coins are mainly projects listed in April, when market sentiment may have changed.

This analysis also shows that the worst performing coins are mainly projects listed in April, when market sentiment may have changed.

Researchers analyze the role of venture capital (VC) funds

Researchers analyze the role of venture capital (VC) funds

Despite the above, this report highlights interest in Binance as an exchange to launch new projects. Possible reasons include exchange dominance and high liquidity. These indicators make it attractive for insiders to exit these investments.

Despite the above, this report highlights interest in Binance as an exchange to launch new projects. Possible reasons include exchange dominance and high liquidity. These indicators make it attractive for insiders to exit these investments.

As BeInCrypto reported in May, Binance was mentioned by crypto researcher Flow as providing exit liquidity for venture capital (VC) funds.

As BeInCrypto reported in May, Binance was mentioned by crypto researcher Flow as providing exit liquidity for venture capital (VC) funds.

“If you owned a portfolio where you invested an equal amount in each new listing on Binance, you would have lost more than 18% in the last 6 months,”

“If you owned a portfolio where you invested an equal amount in each new listing on Binance, you will have lost more than 18% in the last 6 months,”

Recent research by Haseeb Qureshi, Managing Partner at Dragonfly, has provided compelling data showing that one reason tokens dropped in price, especially in April, was because retail investors got angry and left. quit when realizing that VCs own most of the tokens.

Recent research by Haseeb Qureshi, Managing Partner at Dragonfly, has provided compelling data showing that one reason tokens dropped in price, especially in April, was because retail investors got angry and left. upon realizing that VCs own most of the tokens.

“It's probably not retail investors moving money out of VC tokens and into memes, but here's a side theory: VCs own too many of these projects, and that's why investors Retail investors left in anger. They realized (in mid-April?) that these were all VC scam tokens, and the +VC team owned about 30–50% of the token supply. This may have been the last straw,”

“It's probably not retail investors moving money out of VC tokens and into memes, but here's a side theory: VCs own too many of these projects, and that's why investors The small private left in anger. They realized (in mid-April?) that these were all VC scam tokens, and the +VC team owned about 30–50% of the token supply. This could have been the last straw,”

Another view shared in the study is that the supply of these tokens is too small to allow for their value to be unlocked.

Another view shared in the study is that the supply of these tokens is too small small to allow their value to be unlocked.

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