Binance List: 29 Out of 30 2023 Tokens Are 'Bleeding'
CryptoNewsTerminal Staff06 Aug, 2024
Binance List: 29 Out of 30 2023 Tokens Are 'Bleeding'
2023 has been a tough year for new tokens listed on Binance. According to a report from DeFi platform Coin98 (C98), all but one of the 30 tokens listed on the exchange this year are currently trading at a loss. The vast majority of tokens have seen declines exceeding 50%, the report explained, adding that "the only token to see gains was Jupiter's native token JUP, which has increased by 21.2% since it was listed on Binance on January 31." On the other end of the spectrum, the report found that Aave's native token AEVO has seen the steepest declines, falling by more than 90% since it was listed on Binance in March. The report's findings suggest that the market for new tokens is currently struggling. This may be due to a number of factors, including the ongoing bear market and the increasing regulatory scrutiny of the cryptocurrency industry.
