More than 80 percent of all new tokens on Binance are in the red. Most tokens that launch on the major exchanges are immediately dumped on private individuals. Does it still make sense for “ordinary citizens” to invest in speculative new projects? Isn’t it much safer to just choose Bitcoin if you find crypto interesting?
Binance is causing problems for private individuals
For Binance, the incentives are of course clear. They can earn on everything that involves trade and volume. It doesn’t matter to them whether a token represents something of value or is pure hot air.
In that respect, you can’t really trust those kinds of platforms when it comes to new projects. More and more investors seem to be learning from this and are choosing to focus entirely on Bitcoin.
So far, Bitcoin is also the only currency with a proven application. For the rest, that application still has to be found.
Even for Ethereum, which has in principle been around for years and years, we have not yet gotten any further than a decentralized platform for trading shitcoins. Real billion-dollar applications do not yet exist for Vitalik Buterin’s coin.
Only five tokens up
Research from Flow shows that of the 31 tokens examined on Binance, only five were profitable. Of course, these were mainly memecoins. Dogwifhat (WIF), among others, turned out to be a “bull’s eye”.
The fact that more than 80 percent of the new tokens are in the red at this stage of the market is remarkable. You can imagine if there will soon be a bear market and it could really start to hurt.
More and more people seem to understand that this industry is all about Bitcoin. The only coin that has an application that people understand and that you can really do something with. Namely protecting your assets with absolute scarcity, which you can send to the other side of the world within 10 minutes.
Bitcoin is the digital and enhanced version of gold. For the rest of the industry, we still have to figure out what it actually does.
Trade €10,000 for free and get a 10 euro bonus
Do you want to enter the crypto world and perhaps buy Bitcoin or another crypto? Then grab your chance now with this exclusive offer! Thanks to a special deal between Newsbit and Bitvavo, one of the most accessible and user-friendly crypto exchanges in Europe, our readers receive an exclusive offer.
Create an account with Bitvavo via the button below and receive a welcome gift of 10 euros completely free. And that’s not all – you also don’t pay trading fees on your first 10,000 euros in transactions. Register now!
Source: https://newsbit.nl/80-van-alle-nieuwe-tokens-op-binance-staan-in-het-rood/
