Why a higher price movement is observed for recently listed cryptocurrencies on the first day? | Akar Aydemir

While executing cryptocurrency transactions, the relevant project and the former price movements of the cryptocurrency should be analyzed.

Akar Aydemir
Business Development Manager of Paribu

Recently, as soon as Paribu declares that it will list a cryptocurrency, this can lead to price fluctuations on other platforms.

Since the cryptocurrencies listed on Paribu have already proven their success, Paribu can create a positive effect on the prices during periods when risk appetite is high on the market.

We observe that this causes our users to believe that the cryptocurrencies listed on Paribu will always be priced positively.

The second effect is the positive perception of the news regarding Paribu listings at the markets. The cryptocurrencies listed on Paribu becomes easily accessible to approximately 4 million users as of June 1, 2021. And this is perceived as good news by Turkish and foreign investors from various platforms.

Even though we are proud of this appreciation, we recommend our users to be careful in such cases and prioritize preventing harm when it comes to short term movements.

Preferences should be determined analytically rather than emotionally

Regarding the trading of cryptocurrencies, we recommend our users to analyze the project and former price movements of the relevant cryptocurrency, and if a transaction is to be executed, to consider their risk appetite.

As Paribu, we always pay due diligence to introduce successful projects whose basic and technical features have been examined to our users. We do not introduce an unsuccessful project only for the sake of “high trading volume” expectations. However, you should not forget that the cryptocurrency of every successful project will not always be on the rise, and we should consider the trends and price saturation.

Anyone trading on the cryptocurrency market should pay attention to the fact that when a successful project is seriously priced, there can be a lot of users who would like to realize the profit and who carry this cryptocurrency with high profit.

Therefore, regardless of the transaction platform, acting on accurate information and execute transactions based on analytical considerations rather than emotional reactions will always provide benefit.