Ethereum

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A new report analyzing the performance of tokens across multiple cryptocurrency exchanges has uncovered data that suggests Bybit is the top competitor for Day 1 price surges.
The <a data-ct-non-breakable="null" href="https://docsend.com/view/xrmxc5ybb5wic9ug" rel="null" target="null" text="null" title="null">data</a>, compiled by Simplicity Group Research, assessed Binance, Coinbase, OKX, Gate.io, MEXC, Bybit, and KuCoin’s average token price percentage changes after listing.
While Bybit’s Day 1 price performance presents a substantial opportunity for short-term traders, the report advises caution due to the inherent volatility that follows.
<figure>
 <img alt="Report reveals Bybit’s 2,700%+ token surge on day 1 listings" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191e566-4072-7844-8a80-2016c26d9dff">
 <figcaption style="text-align: center;">
 Graph depicting the average 1-week performance of tokens across exchanges. Source: Simplicity Group Research report.
 </figcaption>
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Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/binance-bybit-secure-full-crypto-licenses-kazakhstan" rel="null" target="null" text="null" title="null">Kazakhstan mulls Binance, Bybit for digital asset trading&nbsp;</a>
<h2 id="competitor-analysis">Competitor analysis</h2>
According to the report, Bybit’s Day 1 average token listing price surge of 2738% was the highest valued among eight assessed crypto exchanges.
<blockquote>
 “Even after removing statistical outliers, Bybit continued to show exceptional Day 1 performance compared to other major exchanges.”
</blockquote>
Compared to the other crypto exchanges, Bybit outperformed all its competitors, with Binance witnessing an average 111% increase, and Coinbase saw just a 24% average Day 1 gain.
Furthermore, when considering the weekly changes in price, Coinbase’s average token price adversely compared to its competitors dipped into negative values of -1.87% on average.
<figure>
 <img alt="Report reveals Bybit’s 2,700%+ token surge on day 1 listings" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191e567-3e46-7cd6-bb41-c29c035d87db">
 <figcaption style="text-align: center;">
 Chart depicting the average Day 1, Day 2, Day 3, and 1-Week performance of tokens across exchanges. Source: Simplicity Group Research report.
 </figcaption>
</figure>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bybit-vasp-registration-argentina" rel="null" target="null" text="null" title="null">Bybit receives VASP, card operator registration in Argentina</a>
<h2 id="price-sustainability-caveats">Price sustainability caveats</h2>
As mentioned above, Bybit outperformed all competitors, ending with an average price increase of 539% at the end of the first week — but around 2,200% down from Day 1.
<blockquote>
 “Bybit’s sustained price action highlights strong liquidity and ongoing demand for newly listed tokens.”
</blockquote>
The caveat to this literal tradeoff is the volatility, most starkly seen between the average price changes on Bybit on Day 1 and Day 2.&nbsp;
Unlike KuCoin and OKX, which show slightly more stable price changes over the week, the average token price on Bybit dropped around 1,906% in value after Day 1 and 313% after Day 2.&nbsp;
<figure>
 <img alt="Report reveals Bybit’s 2,700%+ token surge on day 1 listings" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191e570-6ead-70b1-b2d4-5bf1fa96a851">
 <figcaption style="text-align: center;">
 Chart depicting distribution of price changes for tokens listed on Bybit. Source: Simplicity Group Research report.
 </figcaption>
</figure>
 Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-s-bull-rally-will-continue-another-350-days-bybit" rel="null" target="null" text="null" title="null">Bitcoin’s bull rally will continue another 350 days: Bybit</a>
<h2 id="takeaways-from-the-report">Takeaways from the report</h2>
The report highlights the importance of liquidity and its link to early price fluctuations but, in contrast, notes that it “becomes almost irrelevant by the second day.”
Simultaneous multi-exchange listings create outliers, making it difficult to assess individual performance accurately.
<blockquote>
 “...future research could explore this further by exclusively analyzing tokens with identical listing dates.”
</blockquote>
Overall, the report’s data shows that exchange performance is far from predictable and that large exchanges like Binance and Coinbase don’t always create the largest price pumps after token listing.
 Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/simple-change-save-ethereum-roadmap-to-hell/" rel="null" target="null" text="null" title="null">Proposed change could save Ethereum from L2 ‘roadmap to hell’</a>

Report reveals Bybit’s 2,700%+ token surge on day 1 listings

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