The listing effect
Does a token go up after it is listed? Every listing the radar saw, measured on the exchange that listed it: the change from the first hourly candle to 1 hour, 24 hours and about 7, 30 and 180 days later.
No listing has been measured over this time yet. Each listing is measured from its first hourly candle once the time has passed.
Median change by exchange
No listing measured yet. The first figures appear an hour after the first listing the radar sees.
Median, not average: one token that went up tenfold would make an average look like the normal case.
How it is measured
The start price is the open of the first hourly candle after the listing time, on the exchange that listed the token, in USDT. The change at each horizon is the close at that time against the start. A listing counts for a horizon only once the time has passed and the exchange returned the candle. Fees, slippage and the spread are not included, so a real trade does worse than these figures.
Spot listings are measured on Binance, Bybit, Bitget, Gate, MEXC and KuCoin; perpetual listings on Binance and Bybit. OKX, Bitunix and the other perpetual markets are not measured, so they do not appear in these figures.
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FAQ
Why do many tokens fall after listing?
A listing brings a burst of attention and liquidity. Early holders, airdrop recipients and market makers often sell into it. The share of listings that closed lower is shown above for each horizon; it is measured, not a rule.
Is the first-hour change a trading signal?
No. It is what happened, on average, to listings that already took place. It says nothing certain about the next one, and the figures leave out fees and slippage.