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AB Kuai Dong
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Some minor pessimism about BN Alpha.
I just saw that Binance wallet has launched the Alpha market to address recent doubts about listing coins.
From what I've observed over the past period, it seems that the BN listing team currently has two lines of action. The first is to list VC coins, but so far they have all been high open and low close, and there has been no reform in this area. The only happy ones are the BNB holders, who can continue to mine and earn, but it seems that the difficulty is also increasing, and they will have to complete tasks going forward.
The second line is to list low market cap tokens that are already circulating in the market, such as the MEME on Solana not long ago, recent DEX leaders across various chains, and then the CAT on the BNB chain. People will mostly just complain about insider trading or not being on the bandwagon.
But looking at the entire market, everyone is struggling with VC coins, which is the first route with high market cap but continuously falling. Because this market has not yet recovered to the level of massive liquidity seen in 2020 and 2021 during the pandemic, the market cannot support these openings with a market cap over 2 billion.
This reform is still based on casino logic, mainly hoping that gamblers will not sift through other DEXs or competing products like Bybit BG to find coins that might be listed on Binance in the future, but rather hope that everyone directly comes to gamble on my platform, which means trading on the Binance wallet.
If from the 18th to the 20th, five projects are selected each day for everyone to trade and guess, then it is essentially a 15 choose 1 or 15 choose 2 scenario, quite similar to lottery tickets at a racetrack.
In the short term, it can indeed bring a large number of users and trading volume to the Binance wallet, but in the medium term, it will make the market become fatigued with this, and it will further intensify the competition between other DEXs, CEXs, and Binance.
For project parties, it will also force them to push for more trading volume or community promotions to climb the leaderboard.
Yes, the intensity of PVP competition has become higher.
In the medium term, many projects may simply give up on listing on BN altogether, as the Upbit + Bybit + Coinbase combination is also a viable option and covers all regions.
The above is a little reflection on Binance's reform this time, thank you for reading.
AB KUAI DONG
December 17, 2024
I just saw that Binance wallet has launched the Alpha market to address recent doubts about listing coins.
From what I've observed over the past period, it seems that the BN listing team currently has two lines of action. The first is to list VC coins, but so far they have all been high open and low close, and there has been no reform in this area. The only happy ones are the BNB holders, who can continue to mine and earn, but it seems that the difficulty is also increasing, and they will have to complete tasks going forward.
The second line is to list low market cap tokens that are already circulating in the market, such as the MEME on Solana not long ago, recent DEX leaders across various chains, and then the CAT on the BNB chain. People will mostly just complain about insider trading or not being on the bandwagon.
But looking at the entire market, everyone is struggling with VC coins, which is the first route with high market cap but continuously falling. Because this market has not yet recovered to the level of massive liquidity seen in 2020 and 2021 during the pandemic, the market cannot support these openings with a market cap over 2 billion.
This reform is still based on casino logic, mainly hoping that gamblers will not sift through other DEXs or competing products like Bybit BG to find coins that might be listed on Binance in the future, but rather hope that everyone directly comes to gamble on my platform, which means trading on the Binance wallet.
If from the 18th to the 20th, five projects are selected each day for everyone to trade and guess, then it is essentially a 15 choose 1 or 15 choose 2 scenario, quite similar to lottery tickets at a racetrack.
In the short term, it can indeed bring a large number of users and trading volume to the Binance wallet, but in the medium term, it will make the market become fatigued with this, and it will further intensify the competition between other DEXs, CEXs, and Binance.
For project parties, it will also force them to push for more trading volume or community promotions to climb the leaderboard.
Yes, the intensity of PVP competition has become higher.
In the medium term, many projects may simply give up on listing on BN altogether, as the Upbit + Bybit + Coinbase combination is also a viable option and covers all regions.
The above is a little reflection on Binance's reform this time, thank you for reading.
AB KUAI DONG
December 17, 2024
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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