An Analysis of the Listing Effect on Five Major Exchanges: How Much Can It Drive Up Coin Prices? How Long Does It Last?

Author: Nan Zhi, Odaily Planet Daily

Since its listing on Binance, Nerio (in lowercase) has achieved over 20 times growth, showcasing both the listing effect of Binance and breaking the previous impression of continuous decline after the listing of VC coins on Binance. If we consider listing on CEX as the ultimate goal and a positive factor, which sectors' tokens have the most advantages? How does the listing effect of top exchanges work? Odaily will summarize the listing situation of top exchanges since August 1 in this article, attempting to answer the above questions.

What coins are listed by exchanges?

This article compiles the listing announcements from the following exchanges:

• Binance, excluding coin-based markets like SUI, etc.;
• OKX, excluding pre-market;
• Upbit, including KRW, BTC, and USDT markets;
• Bybit;
• Coinbase International Exchange, only listing contracts.

The results are shown in the figure below:

The conclusions are as follows:

• The only sector that can be listed on all exchanges is Meme;
• The second most covered sector by exchanges is the TON ecosystem, with only Coinbase completely avoiding this sector;
• In terms of frequency, the top categories are old coins (34.2%), Meme (23.6%), TON (11.8%), and blockchain games (5.3%);
• Each CEX typically does not list the same coin repeatedly in a short period; non-first listings will only be considered months after other CEXs have listed them, focusing on a "no overlapping" strategy.

The listing effect of top exchanges

It is well known that listings on Binance and Upbit usually lead to a short-term spike, but how high can it rise in the short term? Can this trend be maintained in the medium to long term?

Odaily has compiled statistics on non-TGE listings on Binance and Upbit, taking the opening price of the 4HK line where the listing announcement is made as the starting price, and the price impact of the announcement is taken from the closing price of the same K-line, with the price at 14:00 on September 18 as the current market value.

The results are shown in the figure below:

• Firstly, in terms of growth rates, there are significant differences among tokens; the larger the market value, the smaller the growth rate. For example, the largest market cap token PEPE only increased by 6%, while the smallest market cap tokens Neiro and UXLINK increased by 1264% and 101%, respectively;
• In terms of net market value growth, the differences among tokens remain significant; the more popular and broader the audience for a token, the greater the net market value growth. For instance, Meme tokens have the largest growth, with PEPE, POPCAT, and Neiro, which have the strongest "community" attributes, ranking in the top three, while ATH (Aethir) primarily targets consumers, and BIGTIME's main participants are studios, resulting in a relatively smaller audience and thus lower growth.
• The average market value growth of new tokens on the two exchanges is $78 million and $70 million, respectively. Readers can refer to this market value when considering participation in short-term speculation during future listings.
• Among the five tokens listed by the two top exchanges in August, three tokens (BRETT, PEPE, ATH) have a market value lower than before the listing, while the other two tokens, POPCAT and PENDLE, also experienced some decline, indicating that the listing effect of top exchanges is not lasting and cannot serve as a fundamental driving force for long-term increases. After experiencing short-term FOMO, they often revert to their original positions.