Exchange-event research
New listing pumps: Upbit vs Binance vs Bybit vs OKX
A listing announcement is the classic crypto catalyst, but the size of the move depends on the exchange and much of it fades. These are the medians after every spot listing announcement we have recorded, measured on a market where the coin already traded; brand-new tokens that only started trading after the notice are left out.
Built from 738 measured coin-events since Jun 2023; updated as new announcements are priced.
Questions and answers
- Which exchange's listing announcement moves the price most?
- Median move 24 hours after the announcement, by exchange: Upbit +7.3% (n = 234), Bybit +1.9% (n = 222), Binance +1.3% (n = 114), OKX -0.3% (n = 152), Bithumb -5.8% (n = 9).
- Does the listing pump last?
- Spot listing · All exchanges: median +2.7% after 1 hour, +2.2% after 24 hours and -0.7% after 7 days; 59% of coins were higher 24 hours later (n = 738).
Median price move after the announcement
Per exchange: n = coins measured, the median move from the price at the announcement, and the share of coins higher 24 hours later.
| Group | n | Median 1h | Median 24h | Median 7d | Higher after 24h |
|---|---|---|---|---|---|
| Spot listing · All exchanges | 738 | +2.7% | +2.2% | -0.7% | 59% |
| ↳ from when we caught it | 14 | +0.5% | -9.4% | -21.2% | 36% |
| Spot listing · Upbit | 235 | +14.2% | +7.3% | +2.0% | 71% |
| ↳ from when we caught it | 6 | +8.0% | -1.6% | — | 50% |
| Spot listing · Binance | 115 | +0.5% | +1.3% | -1.3% | 61% |
| ↳ from when we caught it | 1 | caught live on time: 1 — too few to summarise yet | |||
| Spot listing · Bybit | 227 | +0.6% | +1.9% | -0.1% | 54% |
| ↳ from when we caught it | 0 | caught live on time: 0 — too few to summarise yet | |||
| Spot listing · OKX | 152 | +0.6% | -0.3% | -6.1% | 47% |
| ↳ from when we caught it | 0 | caught live on time: 0 — too few to summarise yet | |||
| Spot listing · Bithumbsmall sample | 9 | +3.2% | -5.8% | -11.8% | 33% |
| ↳ from when we caught it | 7 | -7.6% | -11.9% | -24.5% | 14% |
Medians of past moves, measured on the same market from the price at the announcement. Past reactions don't predict the next one: listing and delisting moves are fast and often reverse. Not financial advice. The main rows are measured from the price at the official announcement time, which is usually not tradeable on a fast listing. The “from when we caught it” rows use only announcements our feed stored within 15 minutes, measured from the first price after that.
Latest examples
The newest events of this type and the move 24 hours later. Open one for the full record.
| Published | Announcement | Coin | +24 hours |
|---|---|---|---|
| Oct 15, 2026 | Upbit · Spot listing퍼퍼(PUFFER) KRW 마켓 디지털 자산 추가 | PUFFER | +15.9% from when we caught it |
| Oct 15, 2026 | Bithumb · Spot listing아큐라스트(ACU) 원화 마켓 추가 (거래 오픈 2시 30분 예정) | ACU | -5.6% from when we caught it |
| Oct 13, 2026 | Binance · Spot listingBinance Will List RWUSD and Introduce RWUSD Zero Trading Fee Promotion | RWUSD | 0.0% from when we caught it |
| Oct 12, 2026 | Upbit · Spot listing깃코인(GTC) KRW, USDT 마켓 디지털 자산 추가 | GTC | -15.9% from when we caught it |
| Oct 12, 2026 | Bithumb · Spot listing케이젠(KGEN) 원화 마켓 추가 | KGEN | -23.9% from when we caught it |
| Oct 12, 2026 | Upbit · Spot listing리저브라이트(RSR) KRW, USDT 마켓 디지털 자산 추가 | RSR | -12.8% from when we caught it |
| Oct 12, 2026 | Bithumb · Spot listing제스트프로토콜(ZEST) 원화 마켓 추가 | ZEST | -5.4% caught late (17 min) |
| Oct 12, 2026 | Binance · Spot listingBinance Launches KGST/USDT Zero Trading Fee Campaign (2026-10-14) | KGST | +0.1% from when we caught it |
| Oct 9, 2026 | Bithumb · Spot listing도플러파이낸스(XDP) 원화 마켓 추가 | XDP | -6.9% from when we caught it |
| Oct 9, 2026 | Upbit · Spot listing카이아(KAIA) 신규 거래지원 안내 (KRW, BTC, USDT 마켓) (KAIA/BTC 초기 매수 제한 안내) | KAIA | +36.2% from when we caught it |
How this is measured
Every announcement from the exchange's public feed is stored with the coin's price on the same market (Binance or Bybit, spot first) at the moment it was published, then 1 hour, 24 hours and 7 days later. Brand-new tokens whose trading started after the announcement are left out of the medians: their first price is an opening auction, not a reaction to the news. One coin-event is one ticker in one announcement; moves beyond ±1000% are treated as bad data and left out, and groups of fewer than 5 coins show no median. Older announcements come from the exchanges' archives and are priced from historical candles.
More exchange-event research
How the price moved after past announcements doesn't predict the next one. Listing and delisting moves are fast and often reverse. Not financial advice.