Home > web3.0 > body text

Bybit Is the Top Competitor for Day 1 Price Surges, New Report Shows

WBOY
Release: 2024-09-12 21:46:10
Original
552 people have browsed it

A new report analyzing the performance of tokens across multiple cryptocurrency exchanges has uncovered data that suggests Bybit is the top competitor for Day 1 price surges.

Bybit Is the Top Competitor for Day 1 Price Surges, New Report Shows

A recent analysis of token performance on several cryptocurrency exchanges has revealed that Bybit emerges as the leading platform for substantial Day 1 price surges.

The data, compiled by Simplicity Group Research, examined the average token price percentage changes after listing on Binance, Coinbase, OKX, Gate.io, MEXC, Bybit, and KuCoin.

According to the report, Bybit boasts an impressive Day 1 average token listing price surge of 2,738%, which surpasses the other exchanges by a significant margin.

Binance, in comparison, witnessed an average price increase of 111% on Day 1, while Coinbase saw a more modest average gain of 24% on the first day of listing.

Interestingly, Coinbase's average token price changes over the seven days following the listing dipped into negative values, with an average decrease of -1.87%.

While Bybit's platform无疑 provides ample opportunities for short-term traders, thanks to its high Day 1 price surges, the report also cautions traders about the inherent volatility that follows.

Bybit's average token price surges on Day 1 outperformed its competitors by a substantial degree. For instance, Binance’s average token price increases on Day 1 were valued at 111%, while Coinbase’s reached an average of only 24%.

Moreover, Coinbase's average token price changes over the seven days following the listing also adversely compared to its competitors, dipping into negative values of -1.87% on average.

Bybit's average token price surges on Day 1 were valued at 2,738%, as reported by Simplicity Group Research. This metric showcases Bybit's strength in driving up token prices on the first day of listing.

However, by the end of the first week, these surges had largely dissipated, with the average price increases on Bybit, Binance, and Coinbase decreasing to 539%, 202%, and 101%, respectively.

This phenomenon is particularly evident when examining Bybit's average token price changes day-over-day. After a massive average price increase of 5,390% by the end of the first week — around 2,200% down from Day 1 — the average token price dropped by 1,906% after Day 1 and ۳۱۳% after Day 2.

This volatility is in stark contrast to KuCoin and OKX, which show slightly more stable price changes over the week.

According to the report, liquidity plays a crucial role in early price fluctuations, but it becomes less significant by the second day of listing.

Also, multi-exchange listings on the same day can lead to outliers, making it challenging to assess individual exchange performance accurately.

Finally, the report's data suggests that exchange performance is far from predictable, and large exchanges like Binance and Coinbase don't always create the biggest price pumps after token listing.

The above is the detailed content of Bybit Is the Top Competitor for Day 1 Price Surges, New Report Shows. For more information, please follow other related articles on the PHP Chinese website!

source:php.cn
Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Popular Tutorials
More>
Latest Downloads
More>
Web Effects
Website Source Code
Website Materials
Front End Template
About us Disclaimer Sitemap
php.cn:Public welfare online PHP training,Help PHP learners grow quickly!