What to Do When a New Token Launches on Binance?
When a new token is launched on Binance, here are the essential steps to take to make an informed decision:
1. Check for an ICO: If the token had an initial sale, note the price at which it was sold.
2. Analyze the Total Supply: Find out the total supply of tokens and how many were in circulation at the time of launch.
3. Understand the Target Industry: Identify the application area of the token (AI, gaming, layer 1 or 2 blockchain, etc.).
4. Compare Prices: Study the gap between the ICO price and the launch price on Binance.
5. Evaluate the Market Cap: If it is too high from the start, it is better to wait, as participants in the pre-sale or airdrops may sell quickly.
6. Set criteria: Make sure the price is reasonable (close to the ICO price) and the capitalization is less than $500 million.
7. Check the history of the token: Is it completely new or already available on other platforms?
8. Look for airdrops: See if free tokens have been distributed, which could influence the selling pressure.
My recommendation:
Don’t rush to buy a token right after its launch.
Observe the price evolution for a few hours.
Let the market establish a solid price base before making your decision.
Invest cautiously and learn at every step.