The price of AEVO sharply decreased by 88% has prompted questions regarding the viability of some crypto projects.
OKX’s founder Star Xu stressed the importance of increasing control over the tokens that are enlisted for sale in order to safeguard the investors from frauds.
It is important for exchange platforms to make important and strict listing criteria and conduct further project reviews regularly as illustrated in the AEVO case.
AEVO, a recently launched cryptocurrency, has seen its value plummet dramatically, falling from a high of $3.7 at launch to just $0.44.Such a significant drop in the value of this coin has raised eyebrows among the crypto fraternity regarding the credibility of some tokens listed on these exchanges and their operations. The founder of the OKX exchange Star Xu has engaged these issues publicly noting that increased responsibility and supervision is required to shield investors from questionable projects.
https://twitter.com/WuBlockchain/status/1819221980853555513 The OKX Founder's Opinion
Star Xu, the founder and CEO of OKX, a fast-growing cryptocurrency exchange platform, has expressed his concern over the current scenario of token listings. He condemned the act of promoting tokens that only refine new coins and dilute the sector which is not of good impact on investors. From the remarks made by Xu, it is clear that exchanges have a duty of providing all necessary checks to guarantee that all the projects are capable of being sustainable in the long run.
In addition, Xu explained that when exchanges lack supervision, they end up condoning such practices, contributing to users’ exploitation. His comments highlight the increasing recognition within the industry that a higher standard of listing requirements as well as constant assessment of projects is required to preserve the credibility of the market.
The Downward Spiral of AEVO
Since its launch, AEVO has been declining in value. This has been a fast downward trend and it has lost even 88% of its face value. Such a dramatic decrease in the price of the token has sparked concerns regarding the sustainability of the project.Thus,need of thorough research carried out by exchanges before listing these new assets. This is not the first case where newly listed tokens experience a spike in prices and then plummet, leading to substantial trader losses.
The case with AEVO is, thus, a perfect illustration of all the obstacles that the industry of cryptocurrencies has to face. Since there is no global supervising authority that regulates the token listings and divestitures, it is up to each exchange to enforce a tighter listing policy.
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The post AEVO Tumbles to $0.44—What OKX’s Founder Has to Say About Token Listings appeared first on Crypto News Land.
