The study is based on the all the coins that started trading in 2017/18 on the exchanges.
With the recent boom in the demand for Cryptocurrencies, a certain set of firms have enjoyed massive profits – the cryptocurrency exchanges. However, the rapidly rising number of tokens on the market, including many fake ones, has made it very tough for exchanges to choose the right coin to list for trading.
According to a recent analysis conducted by Dier regarding the performance of cryptocurrency exchanges, Binance and Bittrex list better performing coins when directly compared to HitBTC, Huobi, and OKEx.
According to the study’s findings, the inverse success ratio of new tokens generated via an ICO is 27 percent for Bittrex and 38 percent for Binance, while for both Huobi and OKEx, the ratio is 64 percent. HitBTC, which lists the maximum number of new tokens, meanwhile has an inverse success ratio of 61 percent.
Given the large amount of coins on the market, choosing the right one to list can be like finding a needle in a haystack. This caused Binance to build a dedicated team to review the coins that apply to be listed, the company’s CEO Changpeng Zhao is quoted as having said in the study.
“Binance has a team that is dedicated exclusively to reviewing applications for new tokens,” the text reads. “Mr. Zhao stressed that the sustainability of the project is very important to Binance as they review the teams behind the project and their working history.”
Moreover, rising regulatory woes in countries like the USA has made it even tougher to scrutinize the coins, as local regulations forbid exchanges from listing any ICO tokens that can be considered as securities.
Earlier this month, the Securities and Exchange Commission (SEC) even issued a warning to exchanges allowing the trading of such tokens, stressing that it sees this practice as the unregistered offer and sale of securities.
Binance as well as Bittrex, which is currently the only exchange offering ICO tokens in the US, consult with lawyers prior to listing any token to determine whether the digital asset is a security or not. The tokens also need to pass their due diligence test which checks whether the project has an innovative use case.
“Bittrex uses a robust digital token review process to ensure the tokens listed on the exchange are compliant with U.S. law and are not considered securities,” the Dier report quoted a Bittrex representative as saying.
With the recent boom in the demand for Cryptocurrencies, a certain set of firms have enjoyed massive profits – the cryptocurrency exchanges. However, the rapidly rising number of tokens on the market, including many fake ones, has made it very tough for exchanges to choose the right coin to list for trading.
According to a recent analysis conducted by Dier regarding the performance of cryptocurrency exchanges, Binance and Bittrex list better performing coins when directly compared to HitBTC, Huobi, and OKEx.
According to the study’s findings, the inverse success ratio of new tokens generated via an ICO is 27 percent for Bittrex and 38 percent for Binance, while for both Huobi and OKEx, the ratio is 64 percent. HitBTC, which lists the maximum number of new tokens, meanwhile has an inverse success ratio of 61 percent.
Given the large amount of coins on the market, choosing the right one to list can be like finding a needle in a haystack. This caused Binance to build a dedicated team to review the coins that apply to be listed, the company’s CEO Changpeng Zhao is quoted as having said in the study.
“Binance has a team that is dedicated exclusively to reviewing applications for new tokens,” the text reads. “Mr. Zhao stressed that the sustainability of the project is very important to Binance as they review the teams behind the project and their working history.”
Moreover, rising regulatory woes in countries like the USA has made it even tougher to scrutinize the coins, as local regulations forbid exchanges from listing any ICO tokens that can be considered as securities.
Earlier this month, the Securities and Exchange Commission (SEC) even issued a warning to exchanges allowing the trading of such tokens, stressing that it sees this practice as the unregistered offer and sale of securities.
Binance as well as Bittrex, which is currently the only exchange offering ICO tokens in the US, consult with lawyers prior to listing any token to determine whether the digital asset is a security or not. The tokens also need to pass their due diligence test which checks whether the project has an innovative use case.
“Bittrex uses a robust digital token review process to ensure the tokens listed on the exchange are compliant with U.S. law and are not considered securities,” the Dier report quoted a Bittrex representative as saying.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Binance Trial on Ice in Nigerian Court as Lawyers Demand Missing Documents
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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