It turned out that 9 out of 10 coins newly listed on 12 major cryptocurrency (coin) exchanges worldwide trade below their listing price one year later.
According to CoinGecko, a cryptocurrency market tracking platform, on the 15th, from January last year to February this year, 90% of newly listed altcoins (altcoin, cryptocurrencies other than Bitcoin) on 12 centralized exchanges (CEX, Centralized Exchange) fell below their listing prices. Fewer than 10% of coins maintained their listing price even after one year.
Among altcoins listed on Upbit, a domestic cryptocurrency exchange, 67% were priced above their listing price within 30 days of listing, but after 300 to 329 days, the share of altcoins that maintained the listing price was 0%. For coins listed on Binance Holdings Ltd., the proportion that maintained or exceeded the listing price after 300 to 329 days was 5%.
The so-called "listing beam" effect, in which prices surge immediately after listing, was found to be limited. On the 12 exchanges, only an average of 32% of tokens saw prices rise right after listing. The report said that due to strong short-term profit-taking, the prices of most altcoins appear to fall below their listing prices.