Author: Zoltan Vardai Source: cointelegraph Translation: Shan Oppa, Golden Finance

Binance Co-founder Zhao Changpeng, who is also former CEO, said that the token listing process of cryptocurrency exchanges is flawed and called on centralized exchanges (CEX) to improve the way they handle new listings.

Cryptocurrencies successfully listed on centralized exchanges (CEXs) (such as Binance, Coinbase, or Kraken) are highly demanded by investors because centralized trading This provides a large amount of new liquidity that can improve the price performance of cryptocurrencies after listing.

However, CZ said the process is not perfect, mainly because the time from announcement to listing is too short. “As an observer, I think Binance’s listing process is a bit problematic. They announce and then go public after 4 hours. The notification period is necessary, but within these 4 hours the token price rises on DEX and then people then Selling on CEX, ”

Decentralized exchanges (DEXs) are usually advanced Traders use to discover emerging cryptocurrencies ahead of CEX listing announcements, which are often used by decentralized exchanges (DEX) traders as short-term buy signals, and they sell after the tokens are listed, creating huge selling pressure .

Zhao Changpeng made the above remarks not long ago, Binance just launched the test coin (TST), although the token was originally created as part of the BNB Chain tutorial, But it is regarded as a meme token by investors.

CoinMarketCap data shows that the market value of TST tokens rose to 10% on February 9th The peak of $489 million was followed by a drop of more than 50% to the current $192 million.

TST token name briefly appeared for about a second in its BNB Chain tutorial video on its Four.Meme platform, for testing purposes only.

Although Zhao Changpeng clarified that the video "is not an endorsement of the token", influential communities are still promoting it and pushing up its market value.

After the unexpected soaring of the TST coin price, Zhao Changpeng also believes that the CEX listing procedure needs to be improved.

Zhao Changpeng said that implementing an automatic token listing program similar to DEX may be part of the solution, adding: "I think CEX should be as automatic as DEX List (almost) everything. But I no longer run CEX." Zhao Changpeng said that he made the above remarks as an "outsider" and that he "has not participated in the listing process of Binance or other centralized exchanges."

In recent years, concerns about CEX listing practices have increased. As of May 2024, more than 80% of Binance’s tokens have depreciated in the first six months after their debut, according to a report from Cointelegraph.

However, the decentralized issuance of Hyperliquid (HYPE) tokens may be enabled on-chain A “new era” for fair issuance of cryptocurrencies as the project stages the most valuable airdrop in cryptocurrency history, worth over $7.5 billion.

Composability Labs co-founder and CEO Vitali Dervoed said: The release of HYPE token marks a new relationship between listing and on-chain trading on-chain The beginning of the times. Because HYPE is launched on its own Layer1 order book through a protocol. The token is “not deployed in any centralized venue” but is launched by the crypto community and priced fairly.