background
On April 30 this year, Binance founder Zhao Changpeng CZ was sentenced to four months in prison in the Seattle District Court for violating the US Anti-Money Laundering Act. The prosecutor originally requested a 36-month sentence, but the court received 161 letters of support from friends and family, which emphasized his good image in family and career, which had a positive impact on the judge's decision. The judge believed that although CZ made mistakes in anti-money laundering, he did not deliberately participate in illegal activities, so he finally decided to give a light sentence of four months.
As time goes by, CZ is expected to be released from prison on September 29, 2024. At that time, there will inevitably be a wave of related concept speculation in the meme market. Putting aside the expectations of future new coin speculation, what currencies did Binance, as a leading exchange, launch during CZ's imprisonment? What are the rules? How is the currency price performance? The most important thing is: what kind of market information does Binance want to convey in the newly launched tokens? WOO X Research Institute will take you to find out.
List of Newly Listed Tokens on Binance
Token name Spot/Contract Track Market value Circulation ratio Arrives one day after launch
Price rise and fall before deadline
Date of launch BB Spot + Contract BTCFi 155M 19% -10% 5/13 NOT Spot + Contract TON 760M 100% +3% 5/16 TURBO Contract first, then spot MEME 330M 100% -35% 5/30, 9/16 IO Spot + Contract DePIN 184M 12% -66% 6/11 ZK Spot + Contract L2 420M 18% -50% 6/17 MEW Contract MEME 380M 100% 2% 6/17 LISTA Spot + Contract LSD 70.7M 20% -47 % 6/20 ZRO spot + contract infrastructure 444M 11% 28% 6/20 G Spot first, then contract SocialFi 257M 60% -42% 7/19, 8/15 BANANA Spot first, then contract TG Bot 138M 41% - 37% 7/20, 8/14 RENDER Spot + Contract DePIN 2.4B 74% -28% 7/26 TON Spot L1 13.9B 50% -17% 8/08 RARE Contract NFT 91.3M 71% -16% 8/15 SYN Contract Cross-Chain Bridge 84.3M 88% -31% 8/16 SYS Contract L1 83.5M 99% -30% 8/19 VOXEL Contract Gaming 30.7M 64% -24% 8/20 BRETT Contract MEME 742M 100% -18% 8/20 ALPACA Contract Yield 24.5M 100% -33% 8/22 POPCAT Contract MEME 702M 100% -9% 8/22 SUN Contract DEX 236M 49% -31% 8/22 VIDT Contract Infrastructure 36.5M 84% 4% 8/23 NULS contract L1 41.3M 85% -18% 8/26 DOGS spot first, then contract TON 505M 94% -24% 8/26, 9/05 MBOX contract Gaming 39.4M 59% -18% 8/28 CHESS Contract DeFi 27.2M 58% -15% 8/29 SLF Spot L1 147M - -43% 8/30 FLUX Contract DePIN 210M 80% -0.5% 9/03 BSW Contract DEX 33.2M 86% -13% 9/05 QUICK Contract DEX 36.6M 73% +19% 9/06 NEIRO Contract MEME 73.5M 100% -40% 9/06 RPL Contract LSD 199M 100% -16% 9/09 AERGO Contract L1 41.8M 89% -4.6% 9/10 POL Spot L1 2.7B 70% -7% 9/13 UXLINK Contract SocialFi 120M 17% +56% 9/15 Neiro Spot + Contract MEME 337M 100% +20% 9/16 Babydoge Spot + Contract MEME 332M 100% +2% 9 /16 CATI contract TON X 30.5% X will be online soon HMSTR contract TON X 75% X will be online soon
How to interpret Binance’s coin listing strategy?
Based on the above information, the following facts can be drawn:
Frequent listing of new currencies, mainly contracts: A total of 38 currencies were listed. Since the launch of the RARE contract, Binance has been more active in listing new currencies, most of which are contracts of currencies that already have spot products. The frequency is almost one currency per day. On September 16, three meme contracts (Neiro, Babydoge, Turbo) were launched at once.
Breaking the low circulation and high FDV impression: Except for new coins (IO, ZRO, BB, LISTA), the circulation rate of online coins is above 40%, generally reaching 70%~100%
Poor market environment: Most new coins experienced varying degrees of decline after listing, but a few performed well, such as UXLINK, which rose by 56%. Overall, they did not bring wealth effects to users.
During these four months, the price of Bitcoin continued to be sluggish, fluctuating between 56,000 and 60,000. At the same time, BTC.D rose by 20%, as high as 58%, which also means that during this period, most altcoins performed extremely poorly and the overall market liquidity was exhausted.
Currently, the overall market lacks liquidity, narratives fail, and the market atmosphere is depressed and pessimistic. In the past, whenever Binance launched a currency, whether it was spot or contract, it could drive the overall market optimism. Since the launch of the RARE contract, Binance has increased the frequency of listings, even though most of the currencies are "old coins" that no one cares about. This can be interpreted as Binance trying to inject the market with "life-saving injections" again and again, trying to stir up a ripple in the stagnant market.
After more than a month of attempts, it was obvious that it could only achieve the function of "short-term excitement". Most of them were still pump and dump, and the life cycle was extremely short. Later, Binance launched the capitalized NEIRO contract, which was rarely launched, and was questioned by the community. Later, it launched the three meme coins Neiro spot plus contract, Turbo and Babydoge.
The reversal of capitalization also caused the market value of Neiro, which was originally lowercase, to rise from 18 million to 180 million in an instant, a 10-fold increase in a short period of time, and then rose all the way to a high point of 400 million US dollars. It is the only currency with wealth effect among the tokens recently listed on the exchange.
Tokens have a wealth effect -> Attract more users outside the circle -> Bring in incremental funds -> Market liquidity improves -> Funds drive more different tokens to rise -> Tokens have a wealth effect
The above is a positive flywheel cycle.
Binance's active launch of tokens is the first step to start the flywheel, write a myth of getting rich quickly, and attract users.
Recent Controversies Related to Coin Listing
However, Binance recently launched a large number of meme coins and TON ecosystem-related tokens, which triggered widespread criticism from the community, including serious insider trading problems and lax auditing of Binance listings. In response to these accusations, Binance co-founder He Yi issued a statement on September 17.
She pointed out that Binance's principle of listing coins is to meet user needs, and admitted that in the past, the importance of meme coins was insufficient, which led to the platform's slow response when listing meme coins such as Shiba Inu and PEPE. In the coin listing criteria, projects with long life and commercial logic are preferred.
Finally, he also said in the article: "If we disagree, then maybe you are right." She believes that although the world that each person sees is not connected to each other and everyone can only see their own future, Binance will continue to explore the future and thank all the communities for their guidance.
The whole article is neither humble nor arrogant, and the whole incident has come to an end.
Future market expectations
On September 19, the U.S. Federal Reserve announced a 50 basis point interest rate cut, which is the first two-point interest rate cut since 2020. It also means that the interest rate cut cycle has begun. It can be expected that hot money will gradually flow into the risk market and the crypto market will restore liquidity.
In addition, October has been called "Uptober" in the cryptocurrency circle over the years. According to the history of the cryptocurrency circle over the past 11 years, there have been only two declines in October, and the remaining 9 were all increases, with an increase probability of up to 82%.
The current macro conditions have improved, and coupled with Binance's "artificial bull market", the crypto market is expected to emerge from the gloom in Q4, and Bitcoin will set a new record high.
