83% of CEX Tokens Launched In 2025 Trade Below Listing Price
Key Findings
- New research shows that 83 percent of tokens launched by top centralized exchanges in 2025 are currently trading below their listing price.
- None of the exchanges included in the study recorded a positive performance rate above 20%.
- High volume exchanges showed no structural advantage in post-listing token performance.
- The data suggests that exchange listings function primarily as liquidity events rather than long-term value signals.
Overview
Token listings on major centralized exchanges are widely perceived as a milestone that validates a project and supports sustained price appreciation. This perception continues to shape investor behavior across the crypto market. However, a comprehensive review of token launches in 2025 presents a sharply different reality.
An analysis of tokens listed on the top centralized exchanges shows that the overwhelming majority failed to maintain their listing price. In most cases, tokens began trading lower shortly after listing and continued to underperform relative to their initial valuation.
Data and Methodology
The study examined tokens launched during 2025 across the top 10 centralized exchanges by trading volume, as ranked by Cryptorank. These platforms account for the majority of global spot trading activity and provide a representative view of centralized exchange listing outcomes.
Each token was evaluated using Listing Return on Investment, defined as the ratio between …
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