Despite Strong Initial Pump, 98% of Binance-Listed Tokens Eventually Dump

While Binance remains the most prominent exchange for token listings, a study by CryptoNinjas and Storible revealed that 98% of tokens

The largest cryptocurrency exchange by trading volume, Binance, is often a focus for crypto traders and investors.

A study by CryptoNinjas and Storible has revealed that 98% of tokens listed on Binance eventually dump, despite experiencing a strong initial price surge. The findings are part of a broader analysis of 389 tokens listed in 2024 across six major centralized exchanges (CEXs): Binance, Bybit, OKX, Coinbase (NASDAQ:), Bithumb, and Upbit. The goal of the study was to assess the impact of CEX listings on token performance. The data was gathered between February 2 and February 4, 2025.

The study found that tokens listed on Binance, the most prominent exchange for token listings, typically experience a substantial price pump upon listing, with an average increase of 87%. However, this surge is later followed by a significant decline.

While 46% of Binance-listed tokens reach their all-time high (ATH) at listing and never surpass it, on average, Binance-listed tokens undergo a 70% price decline from their listing price.

The researchers also noted that most tokens experience a sharp price surge at listing, followed by a significant dump.

The data that CryptoNinjas and Storible collected showed that CEX listings trigger a 54% price surge on average at launch, where 37% of tokens hit their all-time high at listing but never surpass it again.

Moreover, the analysis found that 89% of CEX-listed tokens dump post-listing, with an average 52% price decline.

“CEX listings remain a crucial moment for crypto projects, offering immediate liquidity and exposure. However, our data proves that the price action follows a predictable pump-and-dump cycle, making it a risky bet for investors.”

The crypto news outlet and the blockchain data aggregator also compared the price changes for each exchange.

Here is a wrap-up on which CEXs affect a token price after listing on their platform:

The researchers also highlighted the recent listing of Pi Network on OKX and Bitget, which has sparked mixed reactions, with some users experiencing a substantial increase in their token holdings following the listing.

“We observed a 1,000% price increase for those who purchased the token at $0.01 during the early testing phase. On the other hand, those who acquired the token at a later stage, around $0.10, faced a decrease in their investment post-listing.”

The study provides valuable insights into the dynamics of token pricing in the cryptocurrency market. As the industry continues to evolve, understanding these trends will be crucial for making informed investment decisions.