Do not FOMO on newly listed altcoins on Binance

[ufaiz50]

Maybe this is one of the reasons prices dropped "All users that voted for MBL will receive an airdrop of 1,117.44329 MBL to their Binance accounts for each vote they cast. For example, if you had cast 10 votes for MBL, you will receive 11,174.4329 MBL in rewards." https://www.binance.com/en/support/articles/360039659832
 They take advantage of the right opportunities will profit, and true what you say, for those who feel fomo will surely suffer losses.

I agree with this, it is true that usually new coins that are listed based on votes will most likely get lots of volume, so this is the reason many are FOMO. But the conditions will be different if the developer makes a fairly large amount of airdrops and rewards,and finally the decline occurs after being rewarded

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[bhabygrim]

The problem with those new listed alt-coins is that they would only be good for a short time but would ends up being dump the next.
Traders should learn to research about the project on what do they intend to do what are their plans and how would they be in the future.
Don't just pick it up because of the sudden increase of the price you could end up losing your money instead of gaining when you missed out the opportunity to sell it back when the price started to drop down in a short time.

[VDraci]

Getting a coin listed on binance is not easy and if it does happen the coin value will surge for sure but OP is talking about free listing that cost nothing so yes it's definitely bad to FOMO on this, my best bet will be that the coin will only surge for short term only

[lobo13hf]

Getting a coin listed on binance is not easy and if it does happen the coin value will surge for sure but OP is talking about free listing that cost nothing so yes it's definitely bad to FOMO on this, my best bet will be that the coin will only surge for short term only

For the free listing and binance will always be the place for sell. We have had some examples for coins that was getting free listing and the majority of the big holders have already prepared their coins to be sold after it was listed on binance. IEO may a little bit different than it but it's almost the same by getting dumped after early listing phase.

[nekonyun]

yes that's right, it's better if want to buy coins that will be listed in binance buy in other markets before coin listed in binance, it's better than buying coins prices have gone up

[spike420211]

In general, it is quite dangerous to fall into the FOMO trap not only in the spectrum of Binance's coins, but also in any other, for example, the spectrum of top coins.

Perhaps they carry the greatest danger, if the binance coins, after listing, can be sold upward, then the coins from the top 100 list can behave in an unpredictable way.

Buy at the bottom, and never listen to those who advise you to buy a coin that has already increased in price.

[Kasabus]

Getting a coin listed on binance is not easy and if it does happen the coin value will surge for sure but OP is talking about free listing that cost nothing so yes it's definitely bad to FOMO on this, my best bet will be that the coin will only surge for short term only

It's really good as nothing if you only FOMO with the new altcoins listed on Binance because there is no guarantee that they will grow its value in the next months. It would be better to stick on top altcoins that have high marketcap and high trading volume so they would be more valuable in the next months to come.

[Kotone]

yes that's right, it's better if want to buy coins that will be listed in binance buy in other markets before coin listed in binance, it's better than buying coins prices have gone up

Thats a good move. Buy it while the first day of announcement was made by Binance. Normally those coins that are participating will pump as the date of coin vote approaching. Yes, this is a risky venture and many will not try it but many have also gain from it. Its just the timing that needed to be sychronized here.

[PuertoLibre]

The Binance listed altcoins simply turn the green light for emotional traders along with the wise traders. The wise trader has a plan in mind when to enter the trade and when to exit from the trade. The ROI factor, risk/reward, and money management are important values in this case. Without considering the first factor, taking risks with uncalculated strategy can cause more problems, from my experience.

[Lexurdania]

Recently there have been a craze and buy rush for any coin new listed on Binance but usually turns to a nightmare for those who FOMO too early. $MBL which was listed today because they won vote for community coin dumped from 59 sats to 30 sats within some minutes. This was the case with LTO too. My little advise to traders, (especially newbie traders) is to analyze properly before diving into buying a newly listed coin on Binance especially and other exchanges with such hype. Even if you must do, use tight SL and moreover there is no point chasing a moving train.

Agree, indeed we should be patient before deciding to buy. Many people assume that the coins listed on Binance will rise in price quickly even though it all depends on the product produced. Large exchangers such as Binance only connect investors with tokens so that if the tokens or coins are good, investors with large liquidity will easily get it

[South Park]

If people buy purely on something getting listed at some website, binance or not, then they deserve to lose their money.  Sorry but that might be the laziest strategy I have ever heard of.  Put a little more effort in and you can at least not buy the complete and utter scam coins.

You are right but you will be surprised at how common is that strategy, and even if it worked for some time the markets have a tendency to adjust and take advantage of uninformed investors, most likely whales that can buy tokens for a discount realized this occurrence long time ago, and they found a way to exploit it by selling their coins immediately while there is a big interest coming from the community, they can sell a huge amount of coins without the price taking such a huge hit giving them almost instantaneous profits while the rest of investors will have to face the crash that will come once there is no one left to buy those coins.

[Valzador]

To be listed in binance is an achievement for a cryptocurrency project, a junk project will not make it.

The price issue is different, and a good project does not rule out the possibility of being undervalued by the market.
You decide where your money is diverted, if you experience a loss, it is not the fault of the project where you invested your money but your responsibility.