When I was in a discord chatroom of a new project, I found an interesting phenomenon: dozens of people rush into the discord chatroom just after the project got listed on CoinGecko. In another chatroom, some people said that “we should get listed on CoinGecko”. And actually, the price pumped when it is listed.
Let’s verify this: Does CoinGecko listing generally affect the price? Or is it just unique few cases happened around me? I did a simple and short analysis.
Data & Methodology
Here’s the CoinGecko’s Recently Added page. I chose to check the price movement of the project added recently.
These are the subjects, and the projects that I couldn’t get the price info form Astrotools were marked with the black lines. (that TrueBit token is the real one?)
And the methodology is just looking at the chart at Astrotools and marked the time the project is listed with yellow arrows.
Result
The first two projects were listed just a few hours ago.
They got pumped but the effect is somewhat disappointing.
But we have more to come…
These four projects listed yesterday pumped hard just after the listing.
Takeaways
It seems there are people watching CoinGecko listing, maybe through bots or Telegram channel or so. And from the mood the discord chatrooms I was in, people seem to believe that the CoinGecko team lists reliable projects. Is it true?
So, the CoinGecko team would feel responsibility - With great power comes great responsibility.