New study by Ren & Heinrich suggests Binance's emergence as dominant crypto exchange means its token listings are getting more attention among speculators – reminiscent of the “Coinbase effect” _jocelynyang_ reports
The report, which tracked 26 coins over 18 months, showed a 41% increase a day after a listing on the world’s largest crypto exchange by market volume and 24% gain on day three. Ren & Heinrich’s findings offer evidence of a “Binance effect” that benefits tokens at least for the short term and resembles a similara term first conceived in 2021 to account for price bumps that occurred soon after listings on that popular exchange.
The latest study by Ren & Heinrich suggests that Binance's emergence as the dominant global crypto exchange might mean that its individual token listings are now getting a lot more attention – at least among speculators. A “Binance effect” appears to be a byproduct of the exchange’s massive trading volume, which far exceeds its competitors. On Thursday, the exchange’s nearly $7.5 billion in trading volume was about triple that of any other exchange.
While among major exchanges only Coinbase listings had a statistically significant effect on price right after listing back in early 2021, “now that liquidity has concentrated more into Binance's exchange, it's possible their asset listing will have a higher effect on price,” Talamas told CoinDesk in an email.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Regulators say not so fast to Binance US acquisition of Voyager DigitalThe relationship between Binance.US and global Binance looms large in the regulators' joint legal objections.
Les mer »
Binance Margin Introduces Collateral Haircuts on Cross Margin | Binance SupportFellow Binancians, As part of its risk control measures, Binance Margin will be introducing collateral haircuts on Cross Margin from 2023-01-12 08:00 (UTC) . All borrowable assets on Cross Marg...
Les mer »
Ukrainian Pharmacy Chain Introduces Cryptocurrency Payments – Bitcoin NewsA major Ukrainian chain of pharmacies, ANC, has started accepting various cryptocurrencies through Binance Pay.
Les mer »
Jim Cramer Issues Warning on Binance: DetailsJim Cramer thinks SEC might be very worried about Binance, here's why Crypto JimCramer Cryptoexchange Trading Blockchain RegulatedCrypto
Les mer »
Utah’s abortion ban could go into effect if lawmakers pass this new billRepublican Reps. Brady Brammer and Ray Ward — whose proposals Joint Resolution Amending Rules of Civil Procedure on Injunctions and Abortion Revisions — are the first two lawmakers to put forward bills that, if passed, would impact abortion. At least four other lawmakers have opened files for abortion-related bills.
Les mer »
Wind Advisory in effect for east Puget Sound lowlands; breezy elsewhereIf you have Christmas inflatables lying in the yard or a big pile of leaves you have yet to put into the yard waste bin, now might be the time to move them.
Les mer »