Binance Listed 30 New Tokens in 2024, But Most Are Failing Miserably: Coin98 Analytics

Since the start of 2024, 30 tokens debuted on Binance, with most showing negative performance.

Analysis of new crypto tokens listed on Binance in 2024 reveals a challenging landscape, with most tokens experiencing declines in fully diluted valuations (FDV).

Coin98 Analytics, a crypto data and analysis firm, provided a comprehensive overview of this trend, highlighting the performance of 30 tokens listed on Binance since the beginning of 2024.

The analysis focused on the tokens’ FDV, a metric that represents the total value of a cryptocurrency if all its potential coins were fully diluted in the circulating supply.

The analysis showed that out of the 30 tokens, only four experienced gains in FDV, while 26 incurred losses ranging from 10% to 99%.

The worst-performing tokens, PORTAL and AEVO, suffered losses of over 89%.

Meanwhile, JUP, a token without backing from tier-one investors like Binance Labs, Polychain Capital, or Coinbase Ventures, managed to achieve a 21.2% increase in FDV.

The analysis also examined the performance of Initial Exchange Offerings (IEOs) on Binance Launchpad, a platform that has generated an average ROI of 1,148% for its IEOs since its launch in 2017.

Despite the platform’s success, recent token launches exhibited varying results.

Arkham, an NFT marketplace, achieved a 20.22x ROI with a market cap of $246.01 million, showcasing the potential for growth.

On the other hand, Hooked Protocol experienced a 2.86% drop in the past 24 hours, with a 3.65x ROI, highlighting the volatility of the market.

Furthermore, the analysis highlighted the varying impact of tier-one investor support on new crypto tokens.

While some tokens, like MANTA and RONIN, despite having such backing, saw declines, others, like JUP, which was not backed by tier-one investors, managed to achieve gains.

RONIN, which was backed by a16z and Paradigm, dropped 56.1% from an initial FDV of $3.3 billion to $1.45 billion.

In contrast, JUP, which was not backed by tier-one investors, saw its FDV increase from an initial $6 billion to $7.28 billion.