Coins listed on Binance through the community coin vote show a price decrease of an average 24% after 7 days
https://xangle.io/project/MBL/disclosures/5e53368aaa40c06ddf417e9fCoins listed on Binance through the community coin vote had the highest earnings on the day of the announcement after listing, token prices showed a tendency to decline. This shows the Sell on News effect where price increases before official announcement and decreases after.
This analysis was conducted to investigate the effect of voting on listing, which is becoming a trend among exchanges.
According to crypto disclosure platform Xangle, MovieBloc announced that it was listed on Binance after a coin vote on the 21st. Six days after the listing, Moviebloc was down 41%.
Six coins, NKN, ARPA, CTXC, VITE, DREP, and MovieBloc, have been successfully listed on Binance through the coin vote.
The average price increase rate of the six coins on the day of the voting announcement was 60.08% higher compared to 24 hours ago. On the day of listing, the price fell 7.45%; after 7 days, it decreased by 24.07%. NKN was the only coin that showed a price increase.