Messari data shows Binance’s 2025 listings down 71% on average
A new analysis by Messari reveals that investors who purchased every new token listed on Binance's spot market in 2025 would have suffered an average loss of 71%. The study simulated a portfolio allocating $100 to each of the 92 non-stablecoin tokens at their day-one closing price, totaling a $9,200 investment. By March 2026, the portfolio's value had plummeted to approximately $2,600.
The findings challenge the common belief that exchange listings lead to sustained gains. Instead, listings often act as liquidity events where early investors, such as venture capital funds and team members, sell their tokens, creating downward pressure. The report also highlights the impact of token supply dynamics, noting that many new tokens have low circulating supplies at launch with significant future unlocks, leading to persistent selling pressure as more tokens enter the market. This trend, combined with increased competition for investor capital, has shifted the narrative around exchange listings from bullish catalysts to events carrying substantial downside risk.
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