Story Highlight
- Only 25% of tokens stay above their listing price within 30–59 days.
- By around 300 days, even strong performers on Upbit fall below their debut levels.
- After one year, fewer than 10% of tokens across major exchanges remain in profit.
A new Spot CEX Report 2026 from CoinGecko showcases a tough reality for the market: only around 32% of newly listed tokens on major centralized exchanges (CEXs) show positive price action within their first 30 days.
That means nearly 7 out of 10 tokens fail to hold their value almost immediately after launch.
Early Gains Fade Quickly
Even for the minority that start strong, the upside doesn’t last. By the 30–59-day window, only about 25% of tokens remain in profit.
From there, the decline is steady and predictable. Over longer time frames, performance drops almost linearly across exchanges. By the end of 12 months, fewer than 10% of tokens are still trading above their initial listing price.
This shows that most of the listing rallies are driven by short-term hype rather than sustained demand.
Big Differences Across Exchanges
Performance varies widely depending on where a token is listed.
- Upbit leads in early performance, with 67% of its listings still in the green after 30 days. However, it also has one of the lowest listing rates, suggesting higher selectivity.
- On the other hand, Binance and OKX follow at around 50%, while Kraken and Gate.io trail considerably at the lower end.
However, even the best performers don’t escape the long-term trend. Upbit’s listings, despite strong starts, all fall below their initial price within roughly 300 days, showing how quickly early gains can reverse.
Exception Stands Out
Coinbase behaves slightly different. Tokens listed there tend to see a “second wind” after about six months, suggesting delayed accumulation or stronger investor confidence over time.
Meanwhile, liquidity plays a major role here. Stablecoins like Tether and USD Coin dominate trading, accounting for roughly 66% of all pairs. This concentration limits capital flowing into new tokens.
At the same time, high-volume listings and strong initial attention don’t guarantee performance. Many investors chase early gains, only to face sharp corrections once the hype fades.
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