Major Losses for Tokens Listed on Top Exchanges, Recent Report Shows

A recent Animoca Research report highlights significant losses for tokens listed on five major cryptocurrency exchanges—Binance, Bitget, Bybit, KuCoin, and OKX—between January and September.

The analysis of 773 listings reveals a negative median performance ranging from 40% to 70%.

Binance had the fewest listings at 44, while Bitget aggressively listed 339 tokens. March and April were peak months for activity, driven by favorable market conditions. Despite Bitget’s expansion, its average return was negative 46.5%, with Bybit showing the worst performance at negative 50.2%.

KuCoin’s tokens had a median decline of 66.1%, while OKX’s tokens were more resilient, with average and median losses of 27.3% and 40.6%, respectively.

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OKX recorded the highest ratio of profitable listings, with 27.6% yielding positive returns. Binance’s seven successful listings averaged a profit of 108.4%, the highest overall, while Bitget and Bybit also exceeded 100% returns.

The report emphasizes the impact of the market cap/fully diluted value (MC/FDV) ratio on investor interest, particularly for Binance listings, which performed better due to favorable valuations.

Alexander Zdravkov