tl;dr
Binance announced a project applicant plan for crypto listing, prioritizing "high-quality" projects and aiming to create a "healthy and sustainable" market. It plans to allow only "serious projects" on token listings, aiming to reduce the market risk observed in some sectors. Binance also emphasized...
Binance is set to prioritize "high-quality" and "serious projects" for crypto listings, aiming to address concerns regarding tokens with high valuations and low initial floats. The company has launched the Binance megadrop and Binance Launchpad to support early adoption of web3 projects and aspiring blockchain projects. This move is aimed at reshaping harmful token trends and reducing market risk by financing small and medium-sized crypto projects.
Research has shown that over 80% of tokens listed on Binance have experienced a loss in value over the last six months, with only 5 out of 31 seeing price increases. These exceptions are primarily meme coins or projects without significant venture capital backing.
Binance has announced a project applicant plan for crypto listing, with a focus on prioritizing "high-quality" projects to create a "healthy and sustainable" market. The company aims to allow only "serious projects" on token listings in an effort to mitigate observed market risks.
Binance also highlighted its support for small and medium-sized crypto projects and emphasized the importance of regulating compliance. The company aims to finance projects in the industry based on valuation, businesses, products, foundations, social commitment, community, and regulation and compliance.
It was revealed that Binance megadrop is a token issuance platform that integrates exchange coin-earning products with the web3 wallet, allowing users to be early adopters of web3 projects. Additionally, Binance Launchpad supports aspiring projects for existing blockchains, revolutionizing the cryptocurrency crowdfunding field.
The company expressed concerns about some airdrops with diluted valuation and a low generation model, deeming them harmful due to the enormous advantage pressure they create, affecting potential investors and project loyalists. Binance pledged to "reshape that trend" and estimated that $155 billion in tokens will be unlocked between 2024 and 2030, potentially creating "selling pressure" in the market.
Binance is committed to providing value to users while safeguarding their interests, emphasizing its support for small and medium-sized crypto projects as a way to reduce market risk in certain sectors. The performance of listed tokens on Binance has reflected market volatility, with a significant percentage experiencing value loss in the last six months.
For more detailed analysis regarding cryptocurrency coins and tokens, researchers have highlighted that 80% of the tokens listed on Binance have faced value depreciation over the last six months. Out of 31 listed tokens, only 5 have seen price increases since their airdrop; these exceptions are primarily meme coins or projects without significant venture capital backing.