Choosing Centralized Exchanges: Is There a Pattern for New Coin Listings?

What track does the project belong to? Is there a roadmap? Who are the team members? Which VCs have invested? Is there a token? How has the token performed? Which exchanges are listed?

When we consider investing in a cryptocurrency project, we take into account many factors that can influence our confidence and expectations for the project. One important factor is whether the project's token has been listed on well-known centralized exchanges, such as Binance. Having the endorsement of centralized exchanges like Binance can provide us with a sense of security and can also lead to a surge in token prices, as seen recently with $ORDI.

So, do these centralized exchanges in the market have a clear preference for listing projects? How do they choose which projects to list? This article will analyze the information on token listings by centralized exchanges through the new coin data from CoinMarketCap.

Overview of New Token Projects in One Week: Choices of Centralized Exchanges

According to data from CoinMarketCap, in the past week (11.01 - 11.08), the Recently Added section saw a total of 34 projects listed, covering tracks such as DeFi, NFT, Metaverse, and MEME. However, not all new tokens can be listed on centralized exchanges; this process requires review and selection by the exchanges. Statistics show that in the past week, 14 projects' tokens (accounting for 41.17%) were listed on at least one centralized exchange, such as Binance, OKX, MEXC, etc.

Layout of Centralized Exchanges

The MEME track has the most projects, as it has a strong community effect and dissemination ability, attracting many speculative users in a short time. Additionally, the simplicity of project construction leads to a clustering of projects in the MEME track. However, the listing rate of MEME projects on centralized exchanges is not high. Among the 8 MEME projects recently added by CMC, none have been listed on centralized exchanges. It can be seen that despite the thriving project ecosystem in the MEME track, centralized exchanges tend to choose projects with practical use, technological innovation, or industry influence for listing.

|-------------------|------------------------------| | Top 10 CEX on CMC | Spot Listing （11.01 - 11.08） | | Binance | 2 | | Coinbase | 0 | | Kraken | 0 | | OKX | 2 | | Bybit | 4 | | Kucoin | 6 |

The author has compiled the listing situation of the top 6 centralized exchanges on CMC during the period from 11.01 to 11.08. It can be seen that, in general, centralized exchanges are very cautious about the projects they list, placing more emphasis on trading volume and user acquisition data. For example, community-over-sold projects like MEMELAND have attracted the attention of major exchanges, including Binance and OKX, with a 24-hour trading volume reaching 1.46M.

Practicality and Clear Development Vision

Listing on centralized exchanges means broader liquidity, increased visibility and recognition, convenient trading channels, enhanced usability, and improved trust in the project. This provides strong support for attracting more investors, enhancing market influence, and promoting the healthy development of the ecosystem.

However, getting listed on centralized exchanges is not easy. As analyzed above, projects may need to put in more effort to prove their value and attractiveness before being listed. In addition to community effects, project teams should focus on demonstrating the project's practical use, technological innovation, and industry impact. Establishing a strong fundamental basis and providing a clear development vision can help attract the attention of centralized exchanges. Furthermore, characteristics related to market hotspots may also increase the chances of a project being selected by exchanges.