How does the listing strategy of exchanges affect the price of coins? A 50 basis point rate cut, liquidity release brings about a bull market?
Author: Alex Liu, Foresight News
Graphics: Kiet, Foresight News
Note: "Weekly Hot Search" statistics are based on user search results from Foresight News from last Friday to this Thursday (September 13th to September 19th), and the capitalization of the same concept has been merged.
The relationship between this week's market and the exchange's listing decisions is significant.
The "king-level" project "Aleo," which raised $200 million in just its B round, was first listed on MEXC by Pionex, with only Coinbase among the first-tier exchanges. Its token's opening price was significantly lower than expected, causing significant losses for off-exchange traders and even miners. Of course, in addition to not being listed on major exchanges, Aleo's token economy also seems to be one of the reasons for its poor price performance: the initial supply is 1.5 billion tokens, and after the mainnet launch, the consensus algorithm will automatically generate tokens for rewarding validators and stakers. 34% will be allocated to early supporters, 25% to grants, ecosystem contributors, and education, 17% to employees and project contributors, 16% to the Aleo Foundation and Provable, and 8% to strategic partners. The official statement indicates that the tokens claimed will be locked for 1 year.
On the other hand, there are numerous counterexamples.
On September 13th, the Korean exchange Upbit announced the listing of Nervos Network's "CKB," supporting KRW, BTC, and USDT trading pairs. As a result of this news, CKB rose by over 70% in a week. The wealth effect of listing on Korean exchanges remains strong.
On September 15th, Binance announced the listing of "UXLINK" perpetual contracts, with UXLINK rising by over 60% in 24 hours, breaking through 0.75 USDT in the short term.
On September 16th, Binance announced the listing of the "Meme" token "Neiro" spot, which led to Neiro (First Neiro On Ethereum) rising by 115.48% within 1 hour. It then announced the listing of the "Neiro" contract. Just 3 days after listing, "Neiro" rose by over 3 times. Binance's listing of Meme and the "exchange-determined winners" model has sparked intense discussions in the community.
"Sui" has continued to rise in price this week and has remained highly searched. Its ecosystem has also seen continuous news:
Walrus, a decentralized storage and data availability protocol developed by Mysten Labs, the company behind Sui, stated that it will become an independent PoS network and will be governed and incentivized by its native token, WAL. In addition, Decrypt, a crypto media outlet, stated that all its news articles, videos, and other media will be stored as blobs on Walrus.
On September 17th, Sui announced a partnership with Circle and will soon support native USDC.
According to DefiLlama data, Sui's Total Value Locked (TVL) surpassed $800 million on September 19th, reaching $810 million, a historical high. Suilend, a lending platform, has a TVL of $134 million, with a 7-day increase of 14.63%. Recommended reading: Golden Handbook | How to Efficiently Layout Suilend Airdrops? (High returns + airdrop points, entering the explosive Sui ecosystem with Suilend~)
Rate Cut
The "Federal Reserve" finally announced a "rate cut" of 50 basis points on September 19th at 2:00 am, and the market has fully rebounded so far. What will the future market trend be? Is the bull market back? Recommended reading: "Big Rate Cut by the Federal Reserve! Cryptocurrency Market Awaits Bull Run?"
More Hot Words Express
- According to data from the Hong Kong Stock Exchange, the total trading volume of 3 Bitcoin spot ETFs in "Hong Kong" this week was approximately HK$84 million, a significant increase of over 191% from last week's HK$28.86 million. Among them, the two Bitcoin ETFs under the custody of OSL, Huaxia Fund, and Jia Shi International had a weekly trading volume of over HK$81 million, accounting for 96.1%, a significant increase of 244% from last week's HK$23.55 million; the other spot Bitcoin ETF had a weekly trading volume of approximately HK$3.2688 million, accounting for approximately 3.9%, a decrease of over 38% from last week's HK$5.31 million.
- The "Ton" ecosystem continues to maintain high popularity. The Telegram-funded mini-game "Catizen" is expected to airdrop and be listed on an exchange on September 20th.
- Insider: The AI and data project "Grass" completed a Series A "financing" led by Hack VC, with a valuation reaching nearly $1 billion.
- How to participate in the "CAT" 20 protocol? Recommended reading: Boarding Guide: A Quick Overview of CAT Protocol (Can CAT Protocol deliver? A quick guide for boarding).
"Token 2049" is ongoing, recommended reading: September Web3 "Run Meeting" Guide. A preview of the important Web3 events in September, don't miss out.
This week's Mirror hot search list has seen a major reshuffle compared to last week, with hot topics changing rapidly:
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