IOSG Partner Jocy Analyzes 2026 Token Listing Data, New Token Listings as Exit Window for Early Holders
Jocy's team has compiled data on spot and Binance Perp token listings from six major trading platforms from 2026 to present, covering 207 records and 92 independent tokens. According to the average returns in the first 30 days after listing, no platform recorded positive returns.
Jocy believes that in this bear market, new token listings are no longer a universal profit opportunity but rather an exit window for early holders, including project teams, institutions, and early players. The data shows a highly structured transmission chain for token listings: Coinbase and Bybit undertake early price discovery, Binance Perps validate liquidity within days, Binance spot confirms after a pullback, and Korean trading platforms systematically take on high positions at the end, with the entire cycle typically taking just over 20 days.
Different platform choices and entry times can lead to return differences of up to 4.5 percentage points after 14 days. Jocy concludes that in 2026, "where to list a token" is more decisive for trading outcomes than "what token to list."
Source: Public Information
ABAB AI Insight
Jocy, as a founding partner of IOSG, has previously focused on Solana and emerging public chain ecosystem investments. In the 2024-2025 market cycles, he analyzed token listing liquidity and exit paths through data-driven methods. This latest analysis continues his tracking of trading platform behavior patterns and capital flow structures.
In terms of capital pathways, early institutions and project teams complete initial pricing and partial exits through platforms like Coinbase and Bybit, with subsequent funds verified by Binance and ultimately cashed out on Korean platforms, forming a structured "discovery-validation-confirmation-takeover" chain that maximizes early capital realization efficiency.
This model is similar to the rapid transmission paths of new tokens from Binance to Huobi, OKX, and Korean exchanges during the 2021-2022 bull market. Currently, the crypto primary to secondary market is transitioning from universal profit opportunities to a structured exit window for platforms.
Essentially, this represents a transfer of pricing power: the right to list tokens and platform hierarchy become the core pricing mechanisms, as the structured transmission chain allows early participants to profit systematically, while later takeover funds face pressure, leading to a strategic shift from "selecting projects" to "selecting listing timing and platforms."
ABAB News · Cognitive Law
In a bull market, token listings are universal profits; in a bear market, they are exits; platform sequence determines who the takers are. Choosing a platform is more important than selecting a project; a 4.5 percentage point difference in entry timing can determine success or failure. The liquidity transmission chain never sleeps, and early discoverers always create new takers at high levels.