Greetings friends, today I come to talk to you about something known as the Binance effect, this effect occurs when Binance announces any type of business, support or promotion on any cryptocurrency or token, causing a mass hysteria in the public that ends up buying massively the token causing the price to rise exponentially, which generates certain situations that we are going to analyze.
I think it is positive for anyone who is constantly using an unknown token and sees that there is an alliance with Binance, I think that person is really the one who is going to win, those who had the token before the agreement with Binance, since most investors It is not going to make so much money, although Binance usually offers good deals for its investors, once Binance has already announced it and that token has been touched by King Midas, so it is too late, we must remember that most people suffer from FOMO and everyone is looking for the next 20x altcoin, so in my opinion the ones who win the most are those who had the token from before.
If you have read my previous post, you will know that I wanted to invest in the clover token that comes out from April 21 to 24 on coinlist, well it turns out that I am waiting for my coinlist account to be verified, so I have raised the possibility that is not verified in time and then I was exploring the investment options in Binance and I reached a pool on a token, on a game called Alien worlds this TLM token has a value of almost 4 dollars, so I investigated the project, it was where I understood the Binance effect.
Other people like me entered the pool because perhaps they had nothing better to do which causes the price of the token to inflate, as others will buy it directly, although the project is good and interesting, it is unlikely that the price will remain a Once the pool is finished, because when the pool is finished it returns the money and gives rewards in TLM.
So I think that lately this is happening with many currencies, they suffer some push from a major exchange and people buy too much causing the price to go up, but it will end up going down, it is an opportunity you have to buy at the beginning and not take too long to sell to be able to benefit from the Binance effect.
Thank's for read
Hello friend @ramsesuchiha
You know that in my beginnings in trading I made many operations thanks to these ads that Binance makes on any type of business, support or promotion on any cryptocurrency or token, in my particular case I confess that I did well, I have enough time without entering these ads, since you must devote hours to enter and exit without leaving in losses.
Best regards, be well.
That's right, friend, you have to take advantage of the opportunities
Well I guess, we could say - "staking is really cool" - so what if we apply this to Hive? It did happened, it was before Ned did not sell the ninja mined stake yet.
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I think I remember those ninja times, thanks for reading
I guess the Binance effect is that anything listed on Binance will experience a big pump, but then in the end, since many people receive tokens from Binance due to staking, they will mostly end up selling those tokens to take profit, and the price will fall. For example, TLM, I received some in staking rewards and I sold them at $0,8 just after listing, and since then, the price has just been falling.
I am glad that you understood my concept of binance effect, on the TLM you think you sold well and just in time. Thank you for reading
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Good afternoon friend, I entered the TLM pool 2 weeks ago and I must say that it was not what I expected, in coinmarket it was playing $ 6 and when he joined binance he went to the floor. my earnings are worth nothing at the moment, let's wait for the outlook to improve for this coin. regards
look friend, the TLM really is the token of a game it should never have been worth more than 0.5 cents of a dollar, I know that value of 6$ because the game suffered a blockage so for a while all the tokens of that blockchain were blocked, so the tokens in the binance blockchain reached those ireal values, thanks you for read