Data study
How crypto prices react to exchange announcements
We priced 3,821 coins named in 2,630 official announcements from Binance, Bybit, OKX, Upbit and Bithumb (Aug 2022 – Oct 2026) at the moment each was published, then 1 hour, 24 hours and 7 days later. The numbers update automatically as new announcements are priced.
Latest announcement included: October 16, 2026
Key findings
- A Binance delisting notice is the strongest signal in the data: the median coin was -15.7% after 24 hours and -22.7% after 7 days, and 26% of coins fell more than 30% within a day (n = 166).
- Upbit listings move prices the most among spot listings, but the pump fades: median +14.2% after 1 hour, +7.3% after 24 hours and +2.0% after 7 days (n = 234).
- For coins already trading elsewhere, a spot listing on Bybit or OKX barely moves the price: the median 24-hour move is +1.9% on Bybit and -0.3% on OKX.
- Perpetual-futures listings leave no lasting mark: across all exchanges the median coin was 0.0% after 24 hours and -3.5% after 7 days (n = 1,425).
- Control group: when an exchange removes just one trading pair, the median 24-hour move is 0.0% (n = 678) — the method does not invent moves where there is no real news.
- The listing effect is shrinking: the median 24-hour move after a spot listing fell from +4.2% in 2023 to +0.9% in 2026.
Median 24-hour move by exchange and event
Every exchange × event group with at least 20 measured coins, from the most negative median to the most positive.
- Binance · Delisting-15.7%
- Upbit · Delisting-9.0%
- OKX · Delisting-5.6%
- Bybit · Delisting-3.8%
- Upbit · Caution / monitoring tag-3.3%
- Binance · Launchpool / airdrop-2.7%
- Bybit · Perp listing-0.7%
- OKX · Spot listing-0.3%
- Binance · Pair / margin removal+0.1%
- OKX · Perp listing+0.1%
- Binance · Spot listing+1.3%
- Bybit · Spot listing+1.9%
- Binance · Perp listing+3.9%
- Upbit · Spot listing+7.3%
Does the move last?
The median price path from the announcement to 1 hour, 24 hours and 7 days later. Every panel uses the same scale.
n = 166 coins
n = 234 coins
n = 222 coins
n = 1,425 coins
The listing effect, year by year
Median 24-hour move after spot listing announcements, all exchanges, coins that were already trading.
- 2023+4.2%
- 2024+3.1%
- 2025+1.5%
- 2026+0.9%
Full results
Every group in the study. p25 … p75 is the middle half of 24-hour moves; the last two columns show how often a coin rose more than 50% or fell more than 30% within a day.
| Group | Coins | 1h | 24h | 7d | p25 … p75 (24h) | Up after 24h | > +50% (24h) | < −30% (24h) |
|---|---|---|---|---|---|---|---|---|
| All exchanges · Spot listing | 731 | +2.7% | +2.2% | -0.7% | -5.0% … +19.3% | 59% | 13% | 3% |
| Binance · Spot listing | 114 | +0.5% | +1.3% | -1.3% | -1.5% … +10.8% | 61% | 8% | 3% |
| Bybit · Spot listing | 222 | +0.6% | +1.9% | -0.1% | -10.9% … +28.2% | 54% | 19% | 5% |
| OKX · Spot listing | 152 | +0.6% | -0.3% | -6.1% | -6.8% … +4.9% | 47% | 9% | 3% |
| Upbit · Spot listing | 234 | +14.2% | +7.3% | +2.0% | -1.2% … +27.6% | 71% | 13% | 3% |
| Bithumb · Spot listing(small sample) | 9 | +3.2% | -5.8% | -11.8% | -14.1% … +6.7% | 33% | 0% | 11% |
| All exchanges · Perp listing | 1,425 | +0.6% | 0.0% | -3.5% | -7.8% … +10.8% | 50% | 9% | 5% |
| Binance · Perp listing | 456 | +3.0% | +3.9% | +1.8% | -7.4% … +24.7% | 58% | 16% | 4% |
| Bybit · Perp listing | 607 | +0.2% | -0.7% | -6.7% | -9.5% … +6.3% | 44% | 4% | 5% |
| OKX · Perp listing | 362 | +0.4% | +0.1% | -1.9% | -6.2% … +6.6% | 50% | 8% | 5% |
| All exchanges · Launchpool / airdrop | 39 | +6.7% | -2.7% | -14.2% | -19.9% … +12.3% | 44% | 8% | 13% |
| Binance · Launchpool / airdrop | 39 | +6.7% | -2.7% | -14.2% | -19.9% … +12.3% | 44% | 8% | 13% |
| All exchanges · Caution lifted(small sample) | 12 | +5.1% | +4.5% | -0.7% | -0.6% … +15.0% | 58% | 17% | 0% |
| Upbit · Caution lifted(small sample) | 10 | +3.7% | +1.8% | -2.5% | -0.8% … +8.0% | 50% | 10% | 0% |
| All exchanges · Caution / monitoring tag | 73 | -1.5% | -3.4% | -8.8% | -10.3% … +1.4% | 33% | 0% | 3% |
| Upbit · Caution / monitoring tag | 66 | -1.5% | -3.3% | -8.6% | -9.3% … +1.3% | 33% | 0% | 2% |
| All exchanges · Delisting | 801 | -1.4% | -5.7% | -12.3% | -17.7% … -0.7% | 21% | 2% | 11% |
| Binance · Delisting | 166 | -12.4% | -15.7% | -22.7% | -30.7% … -3.5% | 16% | 1% | 26% |
| Bybit · Delisting | 506 | -0.6% | -3.8% | -8.9% | -13.9% … -0.2% | 24% | 2% | 6% |
| OKX · Delisting | 103 | -1.2% | -5.6% | -10.2% | -15.3% … -1.2% | 16% | 2% | 11% |
| Upbit · Delisting | 23 | -6.0% | -9.0% | -11.1% | -11.9% … -4.7% | 17% | 0% | 0% |
| All exchanges · Pair / margin removal | 678 | -0.1% | 0.0% | -0.8% | -2.6% … +2.5% | 50% | 0% | 0% |
| Binance · Pair / margin removal | 664 | -0.1% | +0.1% | -0.8% | -2.6% … +2.5% | 50% | 0% | 0% |
| Bybit · Pair / margin removal(small sample) | 5 | +0.7% | +2.0% | — | -0.3% … +11.8% | 60% | 20% | 0% |
| OKX · Pair / margin removal(small sample) | 9 | -3.4% | -2.5% | -6.2% | -12.2% … +0.3% | 33% | 0% | 0% |
Download the data (CSV) — one row per exchange × event group: medians, quartiles and tail shares.
Methodology
Source: the official announcement feeds of Binance, Bybit, OKX, Upbit and Bithumb, stored as they are published. Older announcements come from the exchanges' own archives and are priced from historical candles.
Prices: the coin's price on the same market (Binance or Bybit, spot first) at the minute of publication, then 1 hour, 24 hours and 7 days later. One coin-event is one ticker in one announcement.
Exclusions: 526 brand-new tokens whose trading started only after the announcement are left out — their first price is an opening auction, not a reaction to the news. Moves beyond ±1000% are treated as bad data, and groups with fewer than 5 coins show no median.
Statistics: medians, not averages, because a few coins that multiply would otherwise dominate. No fees, slippage or funding are included: this describes what prices did, not the result of a trading strategy.
Not a tradeable entry: the price at the minute of publication is often out of reach — a fast listing can move tens of percent before any feed shows it. For announcements our radar caught live within 15 minutes (37 coin-events so far), the CSV also has the medians measured from the first price after we caught them (reachable_* columns).
Limitations
Announcements do not arrive in a vacuum: many land during broad rallies or sell-offs, and the study does not subtract the overall market move. Small groups are noisy. Past reactions do not predict the next one.
Cite or link this study
You are welcome to quote these numbers with a link to this page. They update as new announcements are priced, so please include the date you accessed them.
Citation
getcoinsight (2026). How crypto prices react to exchange announcements. Retrieved October 17, 2026, from https://getcoinsight.com/en/research/exchange-announcement-study
HTML link
<a href="https://getcoinsight.com/en/research/exchange-announcement-study">How crypto prices react to exchange announcements (getcoinsight data study)</a>
Go deeper
- Upbit caution flag: price after
- Binance delisting: price after
- Listing pumps by exchange
- What happens to price after an Upbit warning flag (2023–2026 data)
- Binance delistings: do coins recover? Price 1h/24h/7d after the notice
- Listing pumps by exchange: Upbit vs Binance vs Bybit vs OKX
- Live exchange announcement feed
A data study, not investment advice. Past price reactions do not predict future ones.