After the launch in March, the native token of the L2 crypto derivatives platform Aevo (AEVO) collapsed from a maximum of $3.7 to $0.43 — by almost 90%.
The daily AEVO/USDT chart of the Binance exchange. Data: TradingView.According to CoinGecko, the coin's capitalization has fallen from a peak of $900 million to $373 million.
Assets are hosted on almost all major centralized crypto exchanges, including Binance, OKX, Gate.io , Bybit and MEXC.
OKX CEO Mingxing Xu, known online under the pseudonym Star, drew attention to the situation with a sharp drop in coin quotations, wondering what the purpose of CEX is when placing tokens.
加密货币交易所List Token的初衷是什么？一些Token项目方在List到交易所以后，唯一做的事情就是释放、减持和收割用户。交易所不应该成为这类项目方的帮凶, OKX在List方面做的也不好。由于暂时没有List和减持方面的监管，如何保护这个市场？这是一件值得全行业反思的事情。 https://t.co/GO2f57LyNX
— Star (@star_okx) August 1, 2024"After some projects are listed on exchanges, the only thing they do is issue [tokens], reduce reserves and harm users," he wrote.
In his opinion, trading platforms should not become "accomplices" of such projects, so OKX "does not succeed in listings":
"Since there is currently no supervision over the placement and disposal of assets, how can this market be protected? This is something the whole industry should think about."
AEVO is not the only token that has demonstrated negative dynamics after launch. For example, the StarkNet L2 solution coin (STRK) launched in February fell from a peak of $4.4 to $0.44, by 90%.
The daily chart of the STRK/USDT of the Binance exchange. Data: TradingView.In particular, due to the problems of the token, the ZKX project, built on the basis of the protocol, was closed. The team also cited "low community engagement."
Recall that in May, a researcher under the nickname flow noticed that over the past six months, 80% of the tokens from new listings on Binance have lost value relative to the day of the start of trading on the exchange.
https://forklog.com/exclusive/bum-listingov-pochemu-kolichestvo-ne-obernulos-kachestvom