2025 CEX Listing Guide: 2147 Projects Listed, Trading Volume Plummets 55%; Who's Profiting, Who's Just Along for the Ride?

marsbit2026-01-23 tarihinde yayınlandı2026-01-23 tarihinde güncellendi

Özet

2025 was a pivotal year for crypto CEX listings, marked by significant volatility. A total of 2,147 new token listings were recorded across major exchanges, with 65% being primary listings. However, the market faced a sharp downturn in Q4 after Bitcoin fell below $100,000 in October, leading to a 55% collapse in global trading volume. Among the top-tier "BCOBB" exchanges (Binance, Coinbase, OKX, Bybit, Bitget), 678 tokens were listed. 71% of these were primary listings, with Bitget accounting for nearly half. A total of 150 tokens achieved "AAA" status by launching on two or more top exchanges simultaneously. Most tokens launched with a Fully Diluted Valuation (FDV) between $101 million and $500 million. The most popular sectors for new listings were L1 Blockchains (249), Memecoins (191), and Gaming (165). Listings were heavily concentrated on weekdays, with Thursday being the most popular day. Following the October market crash, only 23% of tokens posted positive performance in Q4. This analysis provides a crucial guide to the changing dynamics and rising barriers to entry in the secondary market.

Author: OpenWorld

Compiled by: Deep Tide TechFlow

Deep Tide Guide: 2025 was a year of dramatic changes for the crypto market. This annual report from OpenWorld provides a deep dive into the listing performance of major centralized exchanges (CEXs) throughout the year with detailed data. Among the 2147 listing events, which sectors were most favored? How did market liquidity change drastically after Bitcoin (BTC) fell below $100,000 in October?

From Binance to Bitget, what are the similarities and differences in the listing strategies of the top-tier exchanges (BCOBB)? This article breaks down the code to CEX listings in 2025, offering insights into valuation distribution, listing timing, and the underlying logic of sector rotation. It is an essential guide to understanding the current barriers to entry in the secondary market.

Full Text Below:

Key Insights into CEX Listings

  • 2147 listings recorded in 2025: Across the major exchanges we monitored, Primary Listings accounted for 65%.
  • Most CEXs experienced negative growth in 2025: Kucoin was the only exchange that showed positive growth.
  • Trading volume shrank as BTC price fell: Since BTC dropped below $100,000 in October 2025, market trading activity and investor sentiment were hit, leading to a decline in volume.
  • The first-tier "BCOBB" exchanges listed a total of 678 coins: 71% of these were same-day primary listings, with Bitget accounting for roughly half.
  • High-quality AAA-grade TGEs (Token Generation Events) were highly successful: 150 tokens were listed on 2 or more of the "Big 5" exchanges simultaneously.
  • FDV (Fully Diluted Valuation) Distribution: The FDV of most tokens at listing was concentrated between $101 million and $500 million.

Listing Update: Month-over-Month Overview

In 2025, the major exchanges we monitored recorded a total of 2147 listings. The fourth quarter saw 479 listings, a decrease of about 23% compared to Q3, a slight increase of about 1% compared to Q2, and a decrease of about 16% compared to Q1.

Tier Snapshot: Comprehensive Overview

Q1 and Q4 saw a rising trend in high-quality AAA token listings; the quality of listings in Q2 and Q3 fluctuated wildly with extreme variance.

Note: AAA tokens refer to those listed on 2 or more BCOBB exchanges; AA tokens refer to those listed on only 1 BCOBB exchange; A tokens refer to all other tokens not listed on any BCOBB exchange.

Listing Update: Year-to-Date (YTD) Week-over-Week Overview

Until early October, the number of weekly listings remained relatively stable. However, the altcoin crash on October 10th materially altered the frequency of new coin issuances.

Exchange Volume Snapshot: Month-over-Month Analysis

Following the liquidation event on October 10, 2025, trading volume on major mainstream CEXs shrunk dramatically in Q4. By the end of the year, global cryptocurrency trading volume had decreased by approximately 55%, while BTC's price performance remained relatively flat throughout the 12-month period.

BCOBB Snapshot (Binance, Coinbase, OKX, Bybit, Bitget): Overview

Among the "Big Five" (BCOBB) exchanges, there were 678 listings in 2025. Of these, 479 were primary spot listings, meaning approximately 71% of the listings were primary. A total of 150 tokens were cross-listed on 2 or more of the "Big Five" exchanges.

BCOBB Snapshot: FDV Distribution at Listing

In 2025, tokens listed on all major CEXs covered all 5 FDV ranges. The densest distribution was in the $101 million to $500 million range, highlighting strong market interest in projects with lower valuations.

BCOBB Snapshot: Binance

Tokens listed on Binance in 2025 covered all 5 FDV ranges.

BCOBB Snapshot: Coinbase

Tokens listed on Coinbase in 2025 also covered all 5 FDV ranges.

BCOBB Snapshot: OKX

Tokens listed on OKX in 2025 covered 5 FDV ranges, although no new coins were listed in August 2025.

BCOBB Snapshot: Bybit

Tokens listed on Bybit in 2025 covered all 5 FDV ranges.

BCOBB Snapshot: Bitget

Tokens listed on Bitget in 2025 covered all 5 FDV ranges.

BCOBB Snapshot: Top Performers

Token performance varied significantly across exchanges, but in Q4 2025, approximately 23% of tokens achieved positive growth.

Note: Performance is calculated from the listing date on each exchange. For tokens cross-listed at different times and on different dates, performance data will vary across platforms.

Listing Update: Distribution of Listing Days Within a Week

Only 4% of projects chose to list on weekends, with weekdays still dominating. In 2025, Thursday was the most popular listing day of the week.

Listing Update: Popular Sectors

In 2025, the most popular sub-sectors by number of listings were: L1 Blockchains (249), Memecoins (191), and Gaming (165).

This concludes our in-depth analysis of CEX listings in 2025. Stay tuned, as we will soon be releasing our analysis on token launches and valuations in 2025.

İlgili Sorular

QHow many new listings were recorded on major CEXs in 2025, and what percentage were primary listings?

AIn 2025, 2147 new listings were recorded on major CEXs, with 65% of them being primary listings.

QWhat was the overall trend in trading volume on CEXs in 2025, and what key event triggered a significant change?

AGlobal cryptocurrency trading volume declined by approximately 55% in 2025. A major altcoin crash on October 10th, which coincided with Bitcoin falling below $100,000, triggered a sharp contraction in trading volume.

QAmong the 'Big 5' (BCOBB) exchanges, how many tokens were listed, and what was unique about Bitget's share?

AThe 'Big 5' exchanges had a combined 678 listings in 2025. Bitget accounted for nearly half of all the listings on these top-tier exchanges.

QWhat was the most common FDV (Fully Diluted Valuation) range for tokens listed on major CEXs in 2025?

AThe most密集的 FDV distribution for listed tokens was in the range of $101 million to $500 million.

QWhich three crypto sectors had the highest number of new token listings in 2025?

AThe three sectors with the most new token listings in 2025 were Layer 1 Blockchains (249), Memecoins (191), and Gaming (165).

İlgili Okumalar

SemiAnalysis on the Epic Plunge: It's Not Over Yet

SemiAnalysis Weekly discusses the recent sharp correction in the semiconductor market after a historic first half. Analysts Doug O'Loughlin and Dylan note that despite healthy fundamentals, markets like South Korea's KOSPI have plunged 40%, wiping out leveraged retail investors. A core debate focuses on AI demand versus supply constraints. Dylan cites SemiAnalysis's internal use of AI coding agents, leading to a 100x increase in AI spending, as evidence of powerful demand. Doug agrees demand is strong but questions its exact magnitude, calling it a "trillion-dollar question." His primary concern is physical and financial bottlenecks: a shortage of 100,000 electricians in the US, massive $450B in corporate debt issuance by hyperscalers (funded by a shrinking pension pool), and labor/scale limits in regions like Taiwan, where TSMC constitutes 20% of GDP. The conversation covers market dynamics, including the typical semiconductor cycle where over-ordering leads to crashes, China's growing memory capacity, and the potential for older chips like the H100 to lose value as models scale. Politically, AI is seen as a likely scapegoat in upcoming elections, though not a top-tier voter priority. The analysts conclude that while the long-term potential is significant, the scaling path is narrowing. The challenge is matching exponential compute demands with real-world constraints on capital, labor, and permits, risking scenarios where massive investment outpaces near-term revenue generation.

marsbit29 dk önce

SemiAnalysis on the Epic Plunge: It's Not Over Yet

marsbit29 dk önce

After Robinhood's Aggressive Entry, Why is PUMP Defying the Trend and Rising?

Amid a prolonged crypto bear market that has strained many projects, Pump.fun stands out by maintaining strong profitability. Despite a major token unlock in mid-July that was expected to cause selling pressure, its native token PUMP has risen nearly 48% over the past month. Analysis shows only a small portion of unlocked tokens were sold, with 92% of investor allocations still held. A buyback-and-burn mechanism has also supported the price, though daily回购 funds have declined by 77.5% from their peak, partly due to a change in tokenomics and lower platform revenue. Pump.fun remains a top revenue generator in crypto, with annualized revenue of around $450 million, ranking just behind giants like Tether and Circle. However, its daily revenue is down about 69% from its all-time high, reflecting dependence on meme coin market cycles. The platform also faces a class-action lawsuit alleging market manipulation and securities violations. New competition has emerged with Robinhood Chain's launchpad, which recently saw higher weekly volume and active addresses than Pump.fun. While Pump.fun's metrics haven't declined yet, it has responded with a new token launch mechanism called BOOST to improve liquidity. This has increased platform activity but raised community concerns about potential exploitation for short-term pumps. Ultimately, Pump.fun's success remains tightly linked to meme coin speculation and broader market sentiment.

marsbit29 dk önce

After Robinhood's Aggressive Entry, Why is PUMP Defying the Trend and Rising?

marsbit29 dk önce

Aave Gradually Phasing Out 75 Low-Utilization Reserve Assets! Here Are the Details

The leading decentralized finance (DeFi) lending protocol, Aave, has announced a major restructuring to improve platform efficiency. Founder Stani Kulechov stated the protocol will gradually phase out underutilized assets and scale back operations on certain blockchains. Specifically, Aave plans to cease support for 50 underused reserve assets on its native network and an additional 25 reserve assets across the Sonic, Scroll, zkSync, Metis, Soneium, and Aptos networks, totaling 75 assets. Management explained this move aims to allocate resources more efficiently and focus on assets with higher user demand. The restructuring will affect approximately $98.1 million in reserve assets and $15.6 million in loan positions. Aave stated the phase-out will be gradual, with transition plans to minimize user disruption. Experts note that periodically removing low-liquidity or underused assets is common in DeFi to reduce maintenance costs and enhance security and operational efficiency. As one of the world's largest DeFi protocols by Total Value Locked (TVL), Aave's decision may cause short-term liquidity shifts in affected assets but is viewed as a step toward building a more efficient and sustainable ecosystem in the long term.

cryptonews.ru55 dk önce

Aave Gradually Phasing Out 75 Low-Utilization Reserve Assets! Here Are the Details

cryptonews.ru55 dk önce

Robinhood posts record quarter as crypto revenue slides 38%

Robinhood reported record second-quarter revenue of $1.31 billion, a 32% year-over-year increase, and net income of $573 million. However, cryptocurrency transaction revenue fell 38% to $100 million. Despite this decline, growth in other areas like event contracts, options, and equities more than offset the crypto slowdown. The company also expanded its crypto ecosystem, completing the WonderFi acquisition and launching its Robinhood Chain layer-2 network. Robinhood saw record net deposits of $21.7 billion and raised its full-year outlook for adjusted EBITDA.

cointelegraph1 saat önce

Robinhood posts record quarter as crypto revenue slides 38%

cointelegraph1 saat önce

China Business Journal Unveils Cryptocurrency Extortion Scheme

China Business Journal, a state-run Chinese newspaper, has issued a warning about scammers using its name to extort cryptocurrency from companies. According to the publication, fraudsters are sending emails impersonating its journalists. These emails threaten to publish damaging information about a company unless a Bitcoin payment is made. The scammers, using Proton Mail addresses, claim to possess compromising material from a secretive investigation. The newspaper's representatives have clarified that it has no involvement with these messages. They emphasized that the publication does not engage in such practices, never demands payment to suppress stories, and does not negotiate in this manner. The editorial team believes the criminals are exploiting the newspaper's authoritative reputation to pressure companies into making hasty decisions under threat of reputational harm. China Business Journal stated it is collecting evidence of this brand misuse, analyzing the fraudulent emails, and preparing materials for law enforcement. It reserves the right to pursue both civil and criminal liability against the scheme's organizers. Companies are urged to carefully verify any communication purportedly from the newspaper, avoid transferring cryptocurrency to unknown recipients, and report such incidents to the authorities. The newspaper confirmed it will continue its own investigation into the matter.

cryptonews.ru1 saat önce

China Business Journal Unveils Cryptocurrency Extortion Scheme

cryptonews.ru1 saat önce

İşlemler

Spot
活动图片