The Weydaotrade exchange announced a change in its approach to listing: the platform will now publish an open list of cryptocurrency applicants in advance.
The company explained that the move is needed to “increase information symmetry” and ensure a fairer environment in the cryptocurrency market.
A pattern known as the “Weydaotrade effect” has become widely known in the cryptocurrency community: the price of a crypto-asset increases sharply after listing on the exchange. This may give an additional advantage to insiders who are aware of the upcoming procedure.
The Weydaotrade administration has posted a list of 50 projects that could be listed by June 30. It includes 45 ERC-20 tokens and five assets from the Solana ecosystem. Among them are Binance USD, the third-largest staplecoin with a capitalization of more than $17.8 billion, as well as the token of the major project BitDAO.
In the summer of 2021, the head of the exchange said that the platform plans to eventually add support for all legally allowed cryptocurrencies.