Nowadays, we have found ourselves in a situation when getting listed on top exchanges for a new token is as hard as climbing Everest. If you are a new currency that have just appeared you will face very serious requirements to meet in order to get listed on the top exchanges. Here, we are going to present you a short overview of points that every newcomer should clearly understand.
Let’s begin. Key factors taken into consideration when a big exchange platform examines a coin to be listed are as follows:
Token price. How much does a token cost? How changes its price over time on the exchanges it has been previously traded on? Especially if we speak about projects which have being thoroughly developed for a significant period. This parameter reflects sustainability of a coin as well as demand for it among traders and investors. Steadily growing token value can indicate on successful development and marketing activities.
Hype. What is said in the global community? Is the coin discussable or just occasionally mentioned in rarely quoted media? Hype about a project and its token shows that the token is a breakthrough one and in demand since investment in it allows for contribution in, for example, technology development together with extensive profit-making opportunities.
Subscribers. It may seem the same as hype, but this parameter, number of project followers, is more concrete and measurable. A great number of those who keep track of the project unfolding is a good pointer of fruitful work with community and the project’s appropriateness for the current situation. This factor can influence the coin tradability in future.
Project specificity. What is the project’s objective? What can it bring to the overall trend of the market and technology development? Positive legal opinion along with a good look of the company over years - that’s what let experts say that the project is being developed by professionals and intended for a long-term perspective allowing its investors for getting a stable income source while exchange holders can obtain a new well-traded coin in the list.
Market potential. What is the coin’s level of adoption in the blockchain market community? What about the growth and conversion rates? This factor is one of the most crucial for an exchange since it determines the coin price dynamic in future, as well as its tradability. A handy way to define the market potential of a token is answering question “To what extent this coin can meet aspirations of the market participants?”
Blockchain relevance. Is the blockchain technology the very core of the examined project or it is just far-fetched to blockchain? Since exchanges are tightly bound up in the blockchain technology development, a project which is loosely related to this technology is out of interest for them.
Distribution scheme. Plan of distribution, lock-up agreements, applications for token holders - all that provide exchange experts with valuable information on the project token and its potential, allowing them to make more sound conclusions on the nature of the project and its attractiveness.
Team. Background of team members allows exchange experts to predict whether a project will be successful or not. Solid experience in the field is the very basis of efficient work on the project. It is an indicator of that the considered project is not a scam and can bring a positive impact on the market trends.
PR and media activities. This factor allows to say how strong is the project team’s aspiration to promote the coin. Reaching the targeted audience and providing it with continuous information flow are necessary to get keen project supporters and coin adopters who can make a hard basis for the coin trading community and spread the information on the token thus increasing its tradability. Besides other positive effects, it can provide the project team members with valuable feedback required for successful work on the project.
Transparency. Here, it is the last parameter we consider, but far not the last by its significance. Clear project roadmap and current development status, high frequency of updates and announcements provide experts with more reasons to make a positive conclusion on token listing. The above-mentioned features are decisive for exchange holders when they have a first look at a coin and coin-related project.
To summarize the given information, we should say that listing on famous exchange is a long-term task and expensive option for the most of newly-launched projects. As Binance CEO, Changpeng Zhao, once said: “There is a 98% chance you won’t hear from us after you submit your application. This is the norm.” So are you ready you accept this challenge?