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New Dimension of Exchange Impact: Effect of Listing Announcement

Revelation@revelation007 (31)2717d

For projects on the digital asset market, being listed with good exchanges or trading platforms brings liquidity and recognition. An exchange with decent reputation could be a real value-add to cryptocurrencies it list. Therefore, after an official listing announcement is released, the price change acts as an indicator which reflects the market impact of that platform.

  • Phenomenal Performance of “CoinBase Effect” When it comes to the effect of listing announcement, CoinBase’s announcement of Bitcoin Cash on Dec. 20, 2017, served as an example. At that time, right after Coinbase announced the listing of BCH, the price was almost doubled within 24 hours from $2,240 to $4,330. This impressive rise spoke for the market's recognition of CoinBase back then.

Picture1.png Fig. “CoinBase Effect” on BCH

Exchange Currency released Date of release Content Biggest increase
CoinBase ETC Jun. 11, 2018 Online soon 28%
CoinBase ETC Aug. 7, 2018 Open trading 21%
Fig. “CoinBase Effect” on ETC Listing

However, while the market went downwards, CoinBase lowered its standards of listing projects and showed a tendency to prioritize quantity before quality. The“CoinBase Effect” became weaker. Take XRP and XLM that were recently listed on Coinbase as examples:

Exchange Currency released Date of release Biggest increase
CoinBase XRP Feb. 27, 2019 10%
CoinBase XLM Mar. 14, 2019 11%
Fig. “CoinBase Effect” on XRP and XLM Listing
  • “Kimchi Premium” Listing announcements by Korean exchanges can also have a positive impact on token prices, the so-called “Kimchi Premium”. Because of the great enthusiasm of Korean people in digital asset trading, the price of one cryptocurrency on Korean exchanges could be much higher than the global average. Thanks to the “Kimchi Premium", official announcements by the two leading Korean exchanges, Bithumb and UPbit, may lead to recognizable price rise; and thus, many projects make very strong efforts to be listed with those two exchanges

Picture2.png Fig. “Kimchi Premium” Effect on HDAC

Picture3.png Fig. “Kimchi Premium” Effect of Bithumb

Exchange Currency online Date of release Biggest increase
Bithumb GXC Mar. 21, 2019 25%
Bithumb NPXS Feb. 28, 2019 22%
Bithumb HDAC Feb. 28, 2019 80%
UPbit ENJ Mar. 18, 2019 37%
UPbit CTXC Feb. 14, 2019 20%
Fig. "Kimchi Premium” Effect of UPbit
  • “New Price Driver” from Asia - BitMax.io (BTMX.com) The driving power of the token price is not an exclusive “patent” to long-existing head exchanges. Listing announcement by a newly established trading platform with a comprehensive set of products and service, industry-leading technical support, and highly-active globalized community can also have a positive influence on the project token price. One example is BitMax.io (BTMX.com).

In a recent survey on Twitter by influencer Rebecca, BitMax.io beat Huobi and UPbit and won the first place, when people were asked on which exchange they would prefer Uranus to be primarily listed.

Picture4.png Fig. Survey by Third Party

This “Driving Force” of BitMax.io listing announcement is proved by three projects that were recently listed: Fantom, Aergo and Fetch. After the announcements were released, the prices of all three projects rose significantly.

Picture5.png Fig. “Driving Force" on Fantom (FTM) Price by BitMax.io Listing Announcement

Picture6.png Fig. “Driving Force" on Aergo (AERGO) Price by BitMax.io Listing Announcement

Exchange Currency released Date of release Biggest increase
BitMax.io AERGO Mar. 17, 2019 20%
BitMax.io FTM Mar. 12, 2019 26%
BitMax.io FET Mar. 17, 2019 16%
Fig. “Driving Force" on Fetch (FET) Price by BitMax.io Listing Announcement

The founder of BitMax.io indicated that the team has been talking and exploring possible partnership with at least 20 projects at this moment. To some projects, even talking with BitMax can lead to a price rise. The users forward to see that BitMax adheres to its commitment to listing only industry top-quality projects and maintains its positive impacts for more and more listing partners.

Comments · 7

  • @geewynn(42)· 2715d

    This is very detailed article. I love what bitmax is doing and how far they are going.

  • @dariusgeralder(25)· 2717d

    There’s a growing interest in BitMax.io from both new and old projects. And that’s because users expect every listing to be huge.

  • @stevegrahamer(29)· 2717d

    BOLT, LTO and AERGO were a part of he biggest listings on BitMax. I think having more driving force comes from users belief in the exchange.

  • @mufjustiner(30)· 2717d

    BitMax built a reputation by listing amazing projects only. They keep at it and we’ll get to tell the success story.

  • @acecool(36)· 2717d

    I thin I'm going to follow Bitmax new listings moving forwards. Yeah it's true there was a significant increase in $FET when it was listed here. I trade it in Binance

  • @shusmoybarua(15)· 2717d

    Its still a huge deal right now to get some good exchange listing announcement. Good exchange is a phrased with for top volume exchange actually! Recently i've seen Bitmax indeed doing pretty awesome job within these short time. Maybe because of their recently introduced feature margin trading! But they really is doing impressive job!

  • @mrcharles(32)· 2717d

    There is a clear indication that the value of a coin or token can be influenced by the exchange listing announcement, and not only the big wig exchange but also the newly established trading platform with globalized community and innovative set of products like BitMax.