A research report by Etoro & The Tie find listings as well as partnership announcements as significant developments (Sigdev) that have an instant, broad and optimistic effect on token values. According to the study paper, this effect, which peaks within the first 24 hours, normally ceases after a week.
According to News.Bitcoin.com, The Etoro and The Tie quarterly report, which zeroes in on new token listings, covers a period dominated by new listings and airdrops, particularly within the decentralized finance (defi) space. Just recently, the defi token of Andre Cronje’s new project, KP3R soared by 3,600% after going from $10, its opening price on Uniswap, to over $373.00 in 24 hours.
The study says “when a crypto-asset gets listed on an exchange it immediately becomes available to a large set of potential users.” Prior to all such listings, buyers may not have been introduced to that particular asset. It explains why new listings tend to have a larger and more immediate effect in token price motion.
A report states that “crypto-assets may trade on hundreds of individual exchanges, and thus different listing events may have significantly different impacts on price.”