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If ordinary people cannot judge whether the market is overheated
The frequency of listing new coins on top exchanges is actually a good indicator.
Because the project party needs to obtain support from three parties to list coins:
1. The project party itself
2. Relevant stakeholders of the project party
3. The exchange itself
If these three parties are all rushing to list coins during a certain period of time.
This period is likely a phase when the market is relatively hot.
Because the data controlled by these three parties is more accurate than that of ordinary retail investors.