Only 12 of 84 new crypto listings have gained value on exchanges
The trend of bullish exchange listings may be declining.
Key findings from a review of price data for coins listed on Binance and Coinbase since January 2023:
- 84 new listings in total: 45 on Binance, 40 on Coinbase
- Only 12 listings have increased in value since their initial trade price
- Recent listing VVV dropped 40% from its list price
Notable losses include:
- MOODENG, MOG, MOVE, ACX, ORCA, GIGA, ME, TURBO, VELO, USUAL, AIXBT, CGPT, COOKIE, PNUT, TRUMP
Some coins, however, have performed well:
- AERO increased by 640% since its February listing on Coinbase
- DRIFT and ONDO also reported significant gains
The market's perception of exchange listings as milestones for coins may be changing. The relationship between smaller-cap coins and bitcoin prices remains strong, suggesting a potential shift in investor sentiment regarding major exchange listings.