Binance’s IEOs keep Dumping, but why?

[Peanyut991]

Binance is not entirely guilty here, the current condition of the crypto market is indeed bad. Bitcoin and Altcoin are almost all in bad condition, we just need to wait for market conditions to improve and the IEO project will definitely improve too.

[joshua123]

I think its out of hand of Binance already I guess. They are the host exchange for matic but their project has been long done from IEO of course if youre in a bad market expect dump. Dont find reason to dig it up cause the only thing that make it dump is probably whales manipulations. Matic doesn't also can control this kind of activity.

[inanilujimi]

I think its out of hand of Binance already I guess. They are the host exchange for matic but their project has been long done from IEO of course if youre in a bad market expect dump. Dont find reason to dig it up cause the only thing that make it dump is probably whales manipulations. Matic doesn't also can control this kind of activity.

At least a little suspicious of this manipulation, seems to make the market unhealthy.
Despite not having solid evidence something is being done.

[Itsmylife]

I think its out of hand of Binance already I guess. They are the host exchange for matic but their project has been long done from IEO of course if youre in a bad market expect dump. Dont find reason to dig it up cause the only thing that make it dump is probably whales manipulations. Matic doesn't also can control this kind of activity.

At least a little suspicious of this manipulation, seems to make the market unhealthy.
Despite not having solid evidence something is being done.

This is why BTC and altcoins have not been recognized by the US, China ...
In the market, where transactions fluctuate by the second, profits are not measured by the value of the project, it is controlled by the thought of a small group, investors are always a good piece of meat

[starblocks]

This looks like a typical pump and dump scenario possibly co-ordinated by some large holders which doesn't mean the exchange is at fault its just pure profit taking and some lucky traders managed to pick up some cheap tokens with low buy orders so there's nothing unusual for cryptocurrency here

[masterrex]

I think Binance has nothing to do with that, it was already listed and free traded and then why criticising Binance for a price dump of an IEO project. if a project token was dump it could be mean a lot? or maybe the hodlers,investors was losing its confidence in the project. or maybe from the team also who possibly dump the matic token on exchange. and i believe that its not beyond Binance control.

[Searing]

I think Binance has nothing to do with that, it was already listed and free traded and then why criticising Binance for a price dump of an IEO project. if a project token was dump it could be mean a lot? or maybe the hodlers,investors was losing its confidence in the project. or maybe from the team also who possibly dump the matic token on exchange. and i believe that its not beyond Binance control.

Because Yobit is promoting such 'iffy' IEO's and givnig them a platform and the thin look of 'legitimacy' even if it seems really sketcy!

Sorta 'co-enabling' the whole somewhat iffy process.

[Raflesia]

Apparently, the scenario of this film have been written long ago by the team. It is just a cliche pump-dump theme. But I do not think there is any other fault than Binance's lie (They probably gave a statement like this to protect themselves) statement on this. The exchange sets certain limits that the amount sent is probably no more than that. In this scenario, there could be another exchange instead of Binance.

I am not interested anymore with Binenace IEO because almost all IEO coin listed on Binance become shit coin with lower price, look at with last Binance coin perlin have lower price and Matict coin become down more than how price during IEO, although is not Binance coin but they have looking which one good IEO for adopting in their exchange without submit all coin but become shit after listing with binance.

If Bino's IEO coins continue like this, there will be many investors who think the coins are no longer useful, but I believe this is not wrong from Binance but from developers still cannot control their tokens on the market, so prices continue to fall.
I still believe that IEO on Binance will produce good results and that is only the first listing on Binance.

[Mpamaegbu]

I keep telling people that what sustains a coin or token isn't on the exchange it's listed but its utility. The only thing big exchanges like Binance can do for a coin listed on its platform is give it instant leverage for price hike and this isn't a great idea in my thinking because it easily can lead to dump. Dumps aren't good for any project. It kills it.

[kesmex]

I keep telling people that what sustains a coin or token isn't on the exchange it's listed but its utility. The only thing big exchanges like Binance can do for a coin listed on its platform is give it instant leverage for price hike and this isn't a great idea in my thinking because it easily can lead to dump. Dumps aren't good for any project. It kills it.

more precisely kill investors! for traders I think they will benefit if they take positions when the DUMP happens,
it is still a mystery why matic dumps up to 70% a day!

[Durdenkingtyler]

It is simple, all coins can be manipulated. It is important to note that there are a lot of established players with huge funds who easily can pump and dump millions of dollars into coins.

The crypto market sentiment does not make it better, as often when a pumper increses the price of a coin, everyone is suddenly "interested". When it dumps, nobody cares about it anymore.

[CarnagexD]

I think Binance has nothing to do with that, it was already listed and free traded and then why criticising Binance for a price dump of an IEO project. if a project token was dump it could be mean a lot? or maybe the hodlers,investors was losing its confidence in the project. or maybe from the team also who possibly dump the matic token on exchange. and i believe that its not beyond Binance control.

Why would some people blaming the exchange for this reason? Look at these IEOs, what is their difference with ICO is that they are already tradeable with no assurance of getting a good position in the market so it is more of like an ICO in disguise. Exchange has nothing to do with pricing, they are just generating leverage on that one. Another thing is altcoins can be manipulated easily by the team behind. it is their strategy to survive long in the fatal market we have now. I've been seeing a dump everywhere, no wonder why there are project that don't last long.

[South Park]

Apparently, the scenario of this film have been written long ago by the team. It is just a cliche pump-dump theme. But I do not think there is any other fault than Binance's lie (They probably gave a statement like this to protect themselves) statement on this. The exchange sets certain limits that the amount sent is probably no more than that. In this scenario, there could be another exchange instead of Binance.

I do not know what people were expecting out of this, the fact that a coin is being released on binance does not really guarantee that it is going to give any profits, the binance exchange at best can guarantee that they have researched the people behind the project and that is it, from that moment it is up to each person to decide whether or not to invest in that coin based on the merits of the coin itself and as the majority of the altcoins those coins have no merit at all or any reason to exist.

[XCANA]

Its no longer a news when we see a dumping on any exchange including Binance. Basically the problem with dumping could be seen from the side of shitcoins owners, they create unnecessary hype to get tractions from investors and when its not forthcoming, they dump the tokens hard on those who have already purchase the worthless shitcoins. Research into a project before investing into it.

[tabas]

Why be surprised with the same fate of IEO even it's being run to a good exchange? it's meant to be dumped because people will certainly look for profits and they wouldn't care about holding it for a long time. Descriptions of telling that these projects are good to hold for long term wouldn't be bought by wise investors anymore. They wouldn't let themselves go at the end of the line just to see the dump before they sell.

[tartibaya]

No wonder. Almost the whole altcoin market is miserable. Binance is polishing some projects at this bad market. Then again the same situation. This is common for the subcoins. You need to know these facts when investing. We're in a wild nature.

[Bonwin]

I am not surprised that it happened and if more should accompany the same fate that, will not meet me unaware. This does not also stop other projects from making headway, even on Binance launchpad. This us why investing what you can afford to lose is more advisable, than gambling with your fund.

[nelson4lov]

No wonder. Almost the whole altcoin market is miserable. Binance is polishing some projects at this bad market. Then again the same situation. This is common for the subcoins. You need to know these facts when investing. We're in a wild nature.

That aside, I think there was an inside job. It was a well coordinated dump. I expected that and it happened just moments after huge tokens were moved out of MATIC's team wallet. Other Binance IEOs were dumped to make it look normal. Contrary to popular opinions, it is due to the current altcoin market but that's not the whole story as there was more than that.

[CryptopreneurBrainboss]

Binance is facing yet another criticism as one of their IEO tokens has seen a huge dump once again. Matic, which was put on Binance launchpad, Binance’s version of an IEO, fell 60% in just minutes.

On a general note, IEOs were just ticking time bombs like their counterparts ICOs. We all knew, the chances of then declining in price were present due to the market conditions of altcoins although our greed always get the better of us. The issue involving the coin in your OP goes beyond just mere IEO dumping.

Matic price decline has a lot to do with FUD and price manipulation, as from the rate at which the decline occured, it's abnormal and most have been a professional dump organized by some users with privileges

[sorrros]

Many experts said that Matic is a real project with big plans and goals. But in recent days the team transfered a big amount of tokens to Binance exchange and someone figured it out and dumped the tokens in panic.
Who knows what the team exactly wanted to do with the tokens.