The Future of Crypto: Binance’s New Project Applicant Plan
Binance has recently announced a new project applicant plan for crypto listings, focusing on prioritizing “high-quality” projects. The platform acknowledges the prevalent issue of tokens being launched with inflated valuations and a limited initial supply. This has raised concerns in the community about the lack of benefits for traders when dealing with such tokens. Binance believes that this trend of high valuations and scarce supply will continue to persist and even grow in the foreseeable future.
Binance’s Commitment to Quality Projects
Binance aims to cultivate a market that is both healthy and sustainable, placing user interests at the forefront rather than catering solely to businesses in search of liquidity. The platform’s megadrop feature offers users the opportunity to engage with web3 projects before they are available on Binance. Launchpad, another Binance initiative, supports budding projects within existing blockchains, revolutionizing the landscape of cryptocurrency crowdfunding.
- Binance will prioritize only “serious projects” for token listings
- The platform is dedicated to fostering a healthy and sustainable market
- Megadrop feature allows early engagement with web3 projects
- Launchpad supports projects within existing blockchains
Crypto Market Trends and Challenges
Binance has raised concerns about the negative impact of certain airdrops with diluted valuations and low generation models. These practices create significant pressure on investors and loyal project members, resulting in an unfair advantage. The platform has pledged to address and rectify this issue, anticipating that the unlocking of $155 billion worth of tokens between 2024 and 2030 will introduce considerable selling pressure in the market.
- Issue of airdrops with diluted valuations and low generation models
- Pledge to reshape the trend of unfair advantage in the market
- Anticipated selling pressure due to token unlocks between 2024-2030
Support for Small and Medium-Sized Projects
By focusing on financing small to medium-sized projects, businesses, products, foundations, and regulatory compliance, Binance aims to reduce market risks associated with certain sectors. This approach reflects the platform’s commitment to providing value to users while safeguarding their interests.
- Emphasis on supporting small and medium-sized projects
- Funding for businesses, products, foundations, and regulatory compliance
- Goal of mitigating market risks in specific sectors
Evaluating Token Listing Performance
Research indicates that over 80% of the tokens listed on Binance have experienced a decline in value over the past six months. Only a select few tokens, including ORDI, Jupiter (JUP), Dogwifhat (WIF), Jito (JTO), and Memecoin (MEME), have seen price increases since their airdrops. Interestingly, these tokens are predominantly meme coins or projects lacking substantial venture capital support.
- Majority of tokens on Binance have decreased in value
- Only a few tokens have seen price increases post-airdrop
- Notable tokens that have experienced price gains
- Emphasis on meme coins and projects without significant VC backing
By
By
