Centralized crypto exchanges are shifting toward more realistic token listing outcomes, according to new research from CoinMarketCap that quantifies listing performance, delisting rates, and how exchange-listed tokens compare to traditional IPOs.
The findings arrive as the broader crypto market trades under pressure, with Bitcoin near $71,426 and the Fear and Greed Index sitting at 16, deep in “Extreme Fear” territory.
Most exchange listings still deliver, but the gap between winners and losers is wide
CoinMarketCap Research found that 68.82% of token listings on seven major crypto exchanges delivered positive ROI in the 180 days preceding March 2, 2025. The average ROI across those listings was 80.81%, compared to -16.35% for Nasdaq IPOs and 19.65% for NYSE IPOs.
However, the median ROI of tokens listed in 2024 was 90%, well below the 167.48% average. That gap signals a small number of outlier tokens pulling the average sharply upward, while a typical listing delivered more modest returns.
CoinGecko’s April 2026 Spot CEX Report paints an even starker picture for short-term holders. The report found that only around 32% of newly listed tokens across the top 12 exchanges remained positive 30 days after listing, and by 12 months fewer than 10% stayed above their initial listing price on most major platforms.
TLDR: Key Takeaways
- Nearly 69% of tokens listed on major exchanges delivered positive ROI over 180 days, but median returns lagged averages significantly due to outlier performers.
- One in four tokens listed between 2023 and 2024 was subsequently delisted, a 25.20% rate across 2,603 listings on seven exchanges.
- Short-term listing performance is harsher: only about 32% of newly listed tokens remain positive after 30 days, per CoinGecko data.
Exchanges are tightening listing criteria amid rising delisting rates
Between January 1, 2023 and December 31, 2024, 2,603 tokens were listed across seven major exchanges and 656 were subsequently delisted, for a 25.20% delist rate. Binance, Gate, and Coinbase had relatively small delisting proportions compared to peers.
Coinbase has made its listing framework public, stating that its application process is free and merit-based. Every asset undergoes legal, compliance, and technical security review before becoming eligible to trade. The exchange has also pointed to the evolving U.S. regulatory landscape, citing the SEC’s digital-asset focus, the GENIUS Act, and proposed federal market-structure legislation as factors shaping its approach.
The compliance pressure is not unique to Coinbase. As exchanges face reputational risk from listing tokens that quickly lose value or get delisted, the incentive to screen more aggressively has grown. The 25% delisting rate across the industry suggests that even with tighter standards, a significant share of projects still fail to sustain post-listing viability.
This trend echoes broader caution in the market. Bitcoin analysts have recently flagged geopolitical risks weighing on price action, while traders tracking short squeeze dynamics near key price levels illustrate how risk appetite has contracted across the board.
What tighter standards mean for token projects and traders
For token issuers, the data suggests that simply securing a listing is no longer a guaranteed catalyst. With fewer than 10% of newly listed tokens remaining above their listing price after 12 months on most top exchanges, projects need stronger fundamentals, sustained liquidity, and credible use cases to survive post-listing.
Teams applying for exchange listings should expect more rigorous due diligence around tokenomics, legal structure, and community traction. The era of listing as a marketing event may be narrowing, replaced by exchanges that treat listing decisions as risk management.
For traders, stricter listing standards could signal higher baseline quality for newly listed tokens, but that does not eliminate risk. The CoinMarketCap data showing an 80.81% average ROI coexists with a reality where a quarter of all listed tokens get removed entirely. Security risks also persist across the ecosystem, as recent incidents involving fake wallet apps have demonstrated.
Stricter exchange listing criteria represent a structural shift, not a safety guarantee. The research makes clear that centralized exchanges are moving toward more grounded expectations, but the gap between average and median performance, combined with a 25% delisting rate, means that due diligence remains squarely on the investor.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.