New Tokens On Binance See Sharp Declines In 2024, Reports HC Capital

According to HC Capital, a prominent crypto research platform, all newly listed tokens on Binance in 2024 have experienced significant declines from their all-time highs (ATH).

These tokens span diverse sectors, including GameFi, AI, Layer 2, and Layer 3 technologies.

The widespread downturn is attributed to several key factors:

1. Market Volatility: Initial hype and speculative trading often inflate prices, which later correct sharply.
2. Low Float: A limited supply of tokens can lead to significant price fluctuations.
3. High Fully Diluted Valuation (FDV): Overvaluation at launch often results in substantial price corrections as the market adjusts.

Key Tokens Affected:

• Down Over 80%
  – AEVO
  – PORTAL
  – STRK
  – SAGA
  – DYM

• Down Over 70%
  – AXL
  – MANTA
  – OMNI
  – PYTH
  – PIXEL
  – TNSR
  – ALT

• Down Over 60%
  – AI (@SleeplessAI_Lab)
  – BOME (@Bomebookofmemes)
  – WIF (@dogwifcoin)
  – XAI (@XAI_GAMES)
  – JUP (@JupiterExchange)
  – METIS (@metisl2)
  – REZ (@RenzoProtocol)
  – ETHFI (@ether_fi)

• Down Over 50%
  – TAO (@opentensor)
  – ENA (@ethena_labs)
  – BB (@bounce_bit)

• Down Over 40%
  – ZRO (@LayerZero_Labs)
  – RON (@Ronin_Network)
  – NOT (@thenotcoin)

• Down Over 30%
  – IO (@ionet)
  – ZK (@zksync)

Performance of Newly Listed Tokens on Binance in 2024

🔻Token Categories:
Diverse sectors: #GameFi #AI #Layer2 & #Layer3,…

🔻All tokens down from ATH due to:
▫️Market Volatility: Initial hype and speculation.
▫️Low Float: Limited supply causing price swings.
▫️High FDV:… pic.twitter.com/qj6KmU2Aqy

— HC – Capital (@hc_capital) June 21, 2024

This trend underscores the inherent volatility and risks associated with newly listed tokens, particularly in highly speculative and emerging sectors.

Investors are advised to conduct thorough research and exercise caution when engaging with new token listings, as market dynamics can lead to rapid and substantial changes in valuation.

The findings by HC Capital highlight the need for a balanced approach to investing in the ever-evolving cryptocurrency landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: monsitj/123RF