The Token Graveyard: Where 90% of Exchange Listings Go to Rot

Getting listed on a major crypto exchange used to feel like hitting the lottery. Token holders would change their Twitter handles, influencers would tweet "to the moon," and project devs would mysteriously go silent for a few weeks while they "focused on development." But new data shows that for most tokens, getting listed is actually the start of a brutal journey to zero. A recent industry report reveals that only about 32% of newly listed tokens actually rise in price shortly after launch on major exchanges. That means most tokens fail to deliver gains even in their early days—because apparently, even free money is too complicated for the average token.

Among the top exchanges, South Korea's Upbit stands out with a jaw-dropping 67% of its newly listed tokens still in profit after 30 days. For context, that's like showing up to a casino and actually leaving with more chips than you brought. However, Upbit lists fewer tokens than its competitors, suggesting they actually have standards—something the industry doesn't talk about enough. Platforms like Binance and OKX follow with around 50% of tokens in the green during the same period. Not quite moon mission territory, but hey, at least it's better than a rug pull.

But after that golden month, things start to deteriorate faster than a meme coin's Discord server after the chart goes red. Between 30 and 60 days, only about 25% of tokens remain profitable. Over time, that number keeps dropping across all exchanges like a sad game of musical chairs where everyone eventually loses. By the end of one year, less than 10% of tokens are still above their listing price. Even Upbit, which starts strong, sees its tokens decline the fastest. "Notably, listings on Upbit, which start off the best, also decline fastest, as all newly-listed tokens go underwater by the 300 – 329 day mark," the report said. So basically, Upbit is the friend who gets you pumped for the party but also drives you home early.

There is one interesting outlier as Coinbase shows a slightly different trend. Some tokens listed there tend to recover after several months, getting what analysts describe as a "second wind" around the six-month mark. Imagine buying a token, watching it tank, accepting your losses, unfollowing the Telegram group, and then suddenly seeing it pump again six months later while you're doom-scrolling through unrelated Discord servers. Still, even with this rebound, long-term success remains rarer than a Bitcoin maximal