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Changpeng Zhao (CZ), the founder of Binance, has sparked debate within the cryptocurrency market by asserting that the long-term impacts of coin listings on prices are not as significant as commonly believed. This perspective contradicts traditional assumptions, especially regarding the efforts new projects exert to get listed on exchanges. According to Zhao, the primary focus should be on project development, as this is the key factor determining long-term prices. In contrast, short-term price movements are merely consequences of temporary liquidity effects.
CZ: “Listings Shouldn’t Matter, Development Does”
Changpeng Zhao argues that coin listings should not create lasting impacts on prices. This viewpoint directly contradicts the prevalent market expectation that “listings elevate prices.” Zhao emphasizes that listings might only trigger short-term surface movements but do not create lasting effects. He believes that the essential determining factor is the project’s development and technical infrastructure over time.
Zhao’s remarks are striking: “In reality, a coin’s listing should not influence its price.” This perspective critiques the notion of exchange listings as a measure of success. CZ suggests that project developers should redirect the energy spent on exchange applications towards product and technological advancement. He reminds stakeholders that tangible progress is essential for long-term success, not merely hype.
Decentralized Exchanges and the Natural Listing Process
CZ also shared his positive views on decentralized exchange (DEX) structures. He posits that in DEX models, every coin is open for listing, allowing investors to make their own decisions freely. This structure can eliminate artificial valuations created by centralized listing processes. Zhao believes that DEXs provide investors with a fairer choice.
On the same day, Coinbase’s announcement of a perpetual futures listing for BNB caught attention. However, CZ clarified that this development was not the result of a special application or agreement but rather a natural outcome of the project’s own progress. He emphasized, “No one applied for this. Focus on development. Listings happen naturally,” underscoring the organic nature of the process. Zhao’s statements may signal that exchange listings hold less significance than before.
Sharp Decline Following MUBARAK Coin Listing
Against the backdrop of these statements, the events surrounding a token named MUBARAK exemplify CZ’s thoughts. After being listed on major exchanges, the token experienced a temporary price increase but subsequently lost approximately 40% of its value. This sudden drop highlighted that listing-related price increases do not always materialize as expected.
Similarly, another token exhibited a price trajectory that differed from predictions post-listing. The market is reassessing the impact of listings, with an increasing number of investors acknowledging that price movements depend not just on exchange news but also on the overall health of the project. Elements like technological infrastructure, development speed, and community impact are being discussed more frequently.
