Overwhelming Majority of Tokens Flop on Asian Exchanges

  • Alex Dovbnya
    📰 News

    Only 1.2 percent out of more than 260 tokens that were analyzed during the research are trading above their initial ICO price on major Asian exchanges


Overwhelming Majority of Tokens Flop on Asian Exchanges

A new BlockBeats report shows that only 1.2 percent out of more than 260 tokens that were analyzed during the research are trading above their initial ICO price on major Asian exchanges, including Binance and OKEx. In fact, the majority of cryptocurrencies declined by more than 70 percent compared to their issue price. WBTC takes the cake as the worst performing coin, tanking by 99.8 percent.   

Only a few coins actually appear in the green. One notable example is the Huobi Token (HT) with a substantial 30 percent surge in value.

The report suggests that the massive drop is due to the low quality of these projects and the prolonging bearish market.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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