A broadly adopted crypto dealer is issuing a warning on two synthetic intelligence (AI)-based altcoins, saying that historical past reveals a 50% drop could be the best-case state of affairs for them.
In a brand new thread on the social media platform X, pseudonymous crypto analyst Altcoin Sherpa tells his 237,500 followers on the social media platform X that AI-focused initiatives ai16z (AI16z) and Zerebro (ZEREBRO) being listed on Binance futures is probably going a sell-on-news occasion.
In line with Sherpa, latest historical past reveals that when property are listed on Binance futures, they have an inclination to see sharp decreases in worth. The dealer cites memecoins Fartcoin (FARTCOIN), Only a chill man (CHILLGUY), Moo Deng (MOODENG), Goatseus Maximus (GOAT) and Peanut the Squirrel (PNUT) as examples.
“I personal each ai16z and Zerebro they usually’ll be listed on Binance futures. Latest historical past reveals that that is NOT a bullish occasion and you’ll usually anticipate wherever from -50% retrace (FARTCOIN) because the best-case state of affairs or a lot worse (GOAT, Chillguy, Pnut, Moodeng).”
The dealer’s chart reveals that Fartcoin noticed a 48% lower in its Solana pair (FARTCOIN/SOL) after it was listed on Binance futures. Nonetheless, the chart additionally reveals the asset rebounded and hit a brand new all-time excessive afterward.
Earlier this week, Binance announced that it might be increasing its suite of futures merchandise, together with choices for Zerebro and AI16z.
ZEREBRO and AI16z are buying and selling for $0.607 and $2.10 at time of writing, respectively. On November third, they had been shifting for simply $0.0058 and $0.109, representing will increase of over 10,000% and 19,000%.
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