[DarpalRating] Which exchange has the best new coins since January?

7 min readApr 25, 2018

April 14th, 2018; by Darpal Rating team, Translated by Xu Guangqian & Tyler Garant

DarpalRating makes evaluations on the quality of new tokens listed on exchanges. Here are our evaluations from March.

You are welcome to use any data on this list, but please make sure that the source is indicated.

New tokens keep springing up in the market while plenty more wait to be listed. It is reasonable to question the quality and necessity of newly listed tokens. Because exchanges can make a large amount of money from both the project itself and its investors, many exchanges will keep listing new tokens. In evaluating which exchanges performed the best in listing new tokens, we looked at newly listed tokens on each market and calculated the change in their prices. Such fluctuation reflects the quality of tokens selected by exchanges. We can also determine the auditing requirements of exchanges for projects from the number of newly listed tokens.

Insights:

Many new projects were launched in November and December of 2017, leading to a dramatic increase in new coin listings on exchanges in January 2018. Following the excessive downtrend of the market, most of these new coins saw their prices plummet.
While compiling this list, we found that most new coins were listed on a few or even only one exchange. Neither the coins nor the exchanges were widely recognized by investors. Regarding market performance, the lesser known projects fell in price most excessively. This is possibly because the exchanges didn’t have enough market depth to support newly listed coins, leading to huge fluctuation in price and the risk of market manipulation.

Definition and Evaluation Method

This list focuses on the quality of new tokens listed in March. It is targeted at new tokens listed on every exchange in January, 2017 and examines the price change of these tokens in the two months since they were listed. New tokens refer to those that have been traded less than 180 days.

We will check the market price of such tokens at the beginning of the first three months, calculate their price fluctuations, and then compute the average of these fluctuations. Taking this average, we will rank these new tokens in a list. Owing to the fact that market quotations remain the same during the same time period, the price of new tokens are affected only by project quality, project popularity, and the project’s investment value. Therefore, the price fluctuation of new tokens can reflect the quality of such tokens and the number of such tokens can also show the auditing requirement of exchanges towards newly listed projects.

Data source: We looked at the market price of these new tokens from Coinmarkcap at 24:00 on February 1st and March 1st and April 1st.

Data processing: According to the results, we calculated each token’s price fluctuations in each month respectively, as well as the combined fluctuation of these two months. As for exchanges that have listed more than three new tokens, we computed the average fluctuation after deleting the maximum value and the minimum value. As for other exchanges, we calculated the average fluctuation directly.

Here is the ranking list:

Conclusion:

In this analysis we must focus on the individual (token) performance instead of the overall (exchange) performance, as some tokens have exposed their investors to extensive risk. While the market is in a downward trend, most new tokens lack the support of their own true value. The ranking of different exchanges has changed a lot when compared to previous months, indicating the great challenge of maintaining the quality of newly listed tokens. The exchanges cannot guarantee that the new tokens will be profitable; there is also likely to be a vast difference in quality among newly listed tokens on a single exchange. Darpal Rating feels it necessary, nevertheless, to warn investors about the exchanges that are repeatedly at the end of this list — such exchanges likely have serious problems in the method by which they list new coins.

The ranking is based on the following data, which includes the tokens listed in each exchange and their market performance:

Right BTC