Changpeng Zhao, founder of Binance, sparked lively discussions by claiming that coin listings on exchanges are not as crucial for long-term growth as project development.
Is Development More Important Than Listings?
Zhao argues that the impact of coin listings on prices is generally temporary, providing only short-lived spikes. He encourages focusing on project development, which will drive long-term value. Zhao believes that the connection between a listing and market price is not as apparent as commonly thought, and the efforts put into obtaining a listing should be directed towards technological and product development.
Decentralized Exchanges as New Market Players
Zhao also expressed optimism about decentralized exchanges (DEX), which provide unrestricted listing opportunities and allow users to make informed decisions without artificially inflated valuations. This creates a fairer environment for investors.
Real-world Examples
The example of the recently launched perpetual futures listing for BNB on Coinbase supports Zhao’s perspective. This listing emerged organically with the project's development. Similarly, the case of the MUBARAK coin, which saw an initial price surge post-listing only to fall by 40%, demonstrates just how unpredictable market responses can be.
Zhao's comments invite a reevaluation of the importance placed on coin listings, suggesting that true technological advancements and community engagement should be the primary goals.
