It is the general opinion that a secured listing on a major cryptocurrency exchange is what it takes for an altcoin’s lasting success.
But the fact is that as long as Binance is the tune of token-holders in Telegram groups, securing a Major Exchange Listing does not guarantee success for altcoins. Despite popular opinion of many ICO buyers and project leaders that a secured major exchange listing remains “the holy grail, the pinnacle of achievement;” projects can only move to the next stage if there is liquidity, validation and credibility, provided by a tier-one exchange.
Token-holders also welcome the idea of a pump that will announce listing on an exchange like Binance. By so doing, they take great delight in using such an opportunity to offload their assets and passing them on to the next set of traders.
The hard work eventually begins after all the bright lights surrounding a major exchange listing fades away, the fact that the excitement from the Telegram chatter is now reduced to a murmur is a perfect example to mention here.
It is not that easy to create a project with a long-term valued token that can generate demand. Very few project leaders have the capacity to put in the hard work, community building, protocol enhancing and partnership forcing for such an achievement. It is very easy to toast your exchange listing. The hardest part is to make sure your token justifies its new found fame as remaining exchange listed is tough.
Tier-one exchanges such as Okex, Huobi or Binance can only provide liquidity, not demand. The availability of several other assets like ETH and BTC trading pairs make it very easy to slip in and out of a particular token. The challenge most projects face is the fact that there is not enough reasons for traders to be willing to purchase a particular asset.
Taking into consideration the latest statistics and the cost of securing a major exchange listing, the conclusion is that the juice is not worth the squeeze.