CCData: Bybit has become the leader in new listings in 2024 with a growth of 83%
A total of 2066 new tokens have been added to the leading centralized exchanges since the beginning of the year
![CCData: Bybit has become the leader in new listings in 2024 with a growth of 83%](https://storage.getblock.net/source/1/0np3W_-DEZdBtv0gOLjoxoY0wxIpqgmM.webp)
18.07.2024 - 08:30
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Last updated on Aug 6, 2024
What’s new? In the first half of 2024, more new tokens were listed on leading crypto exchanges than in all of last year. On the largest exchanges by trading volume, including Binance and Bybit, the number of new listings rose by 11,6% on average to 2066, according to an analysis conducted for Bloomberg by experts at CCData.
What else is known? Only centralized exchanges (CEXs) that hold user assets were considered in the analysis. The data does not include meme tokens, which are usually launched on decentralized exchanges (DEXs). In total, more than one million new meme tokens have been issued since the beginning of the year.
Experts attribute the sharp increase in the number of listings on CEXs to the recovery of the market and, in particular, bitcoin, whose rate has increased by more than 50%. There is also an expectation of cryptocurrency-friendly regulation. It has strengthened with the approval of spot bitcoin exchange-traded funds (ETFs) in the United States and the participation in the election race of Donald Trump, who, as part of his election campaign, states the need to develop the crypto industry and support its participants.
![Reuters: BlackRock, Franklin Templeton, and VanEck have received preliminary SEC approval to launch ETH ETFs](https://storage.getblock.net/source/1/sFP-3LopwdWytTb-uXncAunRX1mgn7yQ.png)
Reuters: BlackRock, Franklin Templeton, and VanEck have received preliminary SEC approval to launch ETH ETFs
If the regulator’s requirements are met, trading in the new products could begin as early as July 23
Among the leading CEXs, Bybit (+83%) was the leader in new listings growth, while Coinbase (+8,2%) was the most conservative. New tokens typically help boost spot trading activity. According to CCData, trading volume on Bybit was 33% higher in June than in December. On Binance, the world’s largest crypto exchange, trading volume declined slightly over the same time.
Analyst firm Kaiko notes that the surge in new listings on the CEX has yet to reach 2021 results. In 2022, the number of listings fell by more than 50%, and last year it fell by another 20%.
Kaiko experts added that Binance is now less active in adding new tokens to the platform compared to its competitors. As a result, the total number of new listings has increased since the start of the rally, but not as quickly as during previous cycles.
Earlier, analyst Colin Wu reported that spot and derivative trading volumes on the leading CEX fell by 17% and 19% in June. Only MEXC (+13% and 2%) showed gains in both metrics.
Analysts of the aggregator CoinGecko calculated that the spot trading volume on CEXs in the second quarter fell by 12,2% to $3,4 trillion. In turn, the spot trading volume on DEXs increased by 15,7% to 370,7 billion, which was caused by airdrops of various projects and the growing popularity of meme tokens.
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