A listing on Binance had an unexpected outcome: instead of the traditional valuation after the listing, the cryptocurrency dropped by about 40% within a few hours of arriving on Binance. At the same time, it saw a threefold increase in trading volume, reaching 669 million dollars.
The chart shows an unusual pattern in listing cases: sharp price drop and increase in trading volume. Source: X.com
The token in question is SAHARA, a cryptocurrency of the eponymous protocol focused on the creation and monetization of artificial intelligence systems. The cryptocurrency had been announced a few days earlier through a TGE that distributed about 5% of the total supply through an airdrop program.
However, contrary to what usually happens after listings, SAHARA, which was launched on the market at a price of 0.141 USD, quickly dropped and is now selling at 0.084 USD. A significant drop approaching 40%. But all indications are that this drop is not related to the utility value of the project, but to opportunistic traders.
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