When a new token is launched on Binance, here are the essential steps to follow 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 are in circulation at the time of launch.
3. Understand the target sector: Identify the domain of application 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 pre-sale or airdrop participants might 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 tokenâs history: Is it completely new or already available on other platforms?
8. Look for airdrops: See if any free tokens have been given away, which could influence selling pressure.
My recommendation:
Don't rush to buy a token right after its launch.
Observe the price evolution over a few hours.
Let the market establish a solid price base before you make your decision.
Invest wisely and learn every step of the way.