Golden Finance reports that, according to an analyst who goes by the pseudonym Ignas, PENGU and CGPT are the only recently launched tokens that have not experienced a comprehensive plunge after being listed on Binance. At press time, PENGU was trading at $0.028, down 60% from the $0.07 price level it reached on the day it listed on the exchange, while CGPT was down 4.7% since listing on January 10. Meanwhile, memecoin Simon Cat (CAT) and Magic Eden’s native token ME have fallen roughly 70% since listing. Ignace sees this as a positive shift for the market: “Previously, price discovery took place in the private venture market, with CEXs (centralized exchanges) as exit liquidity. Now, DEXs [decentralized exchanges] ] is responsible for price discovery, and CEX is responsible for exiting liquidity.” Ignace further emphasized this new dynamic, citing the listing of Velodrome (VELO) as an example. After Binance created a trading pair for the VELO token on its platform, its price dropped by almost 70%, with the current price at $0.1154 at press time. The reason behind this change is that traders classified as “smart money” dominate decentralized exchanges. Additionally, Ignas noted that having exit liquidity flows such as centralized exchanges is healthy for the market.