CEX Listing Insights Key Takeaways
-2025 recorded 2,147 listings across the major exchanges we monitor, primary listings composed 65%
-Most CEXs experienced negative growth in 2025, with Kucoin showing the only positive gain
-The decline in volumes followed BTC’s drop below $100,000 since October 2025, which dampened trading activity and investor sentiment
-Tier 1 “BCOBB” exchanges posted 678 listings, 71% were day 1 listings, Bitget accounted for ~half
-High-quality AAA TGEs had a very successful year, 150 tokens were cross-listed on 2 or more of the “Big 5”
-A majority of the tokens were listed within the $101M - $500M FDV range
Listing Updates: Month Over Month Overview
In 2025, 2,147 listings were recorded across the major exchanges we monitor. Q4 recorded 479 listings, down ~23% from Q3, up ~1% from Q2, and down ~16% from Q1.
Tiered Snapshot: Overview
Q1 and Q4 presented an upwards trend for high quality AAA token listings, whereas Q2 and Q3 posted wild variances in listing qualities.
Note: AAA tokens are listed on 2 or more BCOBB exchanges, AA tokens are listed on exactly 1 BCOBB exchange, and A tokens are all other tokens listed on no BCOBB exchanges.
Listing Updates: YTD Week Over Week Overview
Weekly listings remained relatively stable through early October. The 10/10 altcoin implosion materially changed the rate at which new tokens were issued.
Exchange Volume Snapshot: Month Over Month Analysis
Trade volume on major CEXs declined sharply in Q4 2025 following the October 10th liquidation event. Global crypto volume declined ~55% by year end, while BTC prices ended relatively flat over the 12 month period.
BCOBB Snapshot (Binance, Coinbase, OKX, ByBit, Bitget) : Overview
Of the “Big 5” (BCOBB) exchanges, there were 678 listings in 2025. 479 of these were primary spot listings, this equates to ~71% of listings being primary. There were 150 tokens cross listed on 2 or more of the “Big 5.”
BCOBB Snapshot: FDVs @ Time of Listing
In 2025, all CEXs listed tokens across all 5 FDV ranges, with the highest concentration in the $101M – $500M range, highlighting strong interest in lower market valuations.
BCOBB Snapshot: Binance
Binance listed tokens across all 5 FDV ranges in 2025.
BCOBB Snapshot: Coinbase
Coinbase listed tokens across all 5 FDV ranges in 2025.
BCOBB Snapshot: OKX
OKX listed tokens across all 5 FDV ranges in 2025, although not listing any tokens in August 2025.
BCOBB Snapshot: ByBit
ByBit listed tokens across all 5 FDV ranges in 2025.
BCOBB Snapshot: Bitget
Bitget listed tokens across all 5 FDV ranges in 2025.
BCOBB Snapshot: Top Performers
Performance varies wildly between tokens on various exchanges, however ~23% of tokens saw positive growth in Q4 2025.
Note: Performance is since listing date on each particular exchange. There will be discrepancies between tokens that are cross listed on different exchanges at different times and dates.
Listing Updates: Listing Days of the Week
With only 4% of projects listing over the weekend, weekdays continue to dominate listings, with Thursday being the most popular day of the week to be listed in 2025.
Listing Updates: Popular Listings
In 2025, the most popular verticals by listing quantity were the L1 Blockchain (249), Memecoin (191), and Gaming (165) categories.
This wraps up our CEX listing analysis for 2025. Tune in shortly as we post our 2025 token launch & valuation insights analysis.