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Animoca Brands explores the new tokens listed on exchanges in 2024

A report from Animoca Brands Research analyzed the performance of new cryptocurrencies listed on exchanges from January to September 2024. The study found that new coins listed on centralized exchanges generally performed poorly, with an average ROI between -27% and -50%. Bitget had the most listing activity, followed by Kucoin and Bybit. April was the most profitable month, with 133 listings. The report also noted that the excessive fragmentation of the market and the choice to list coins with low circulating supply and high fully diluted valuation contributed to the depreciation of new coins. The dominance of Bitcoin increased during the period, and altcoins were less appealing compared to BTC. The report highlighted the relationship between market capitalization and fully diluted valuation, noting that balanced listing approaches seemed to attract users.

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