Most new crypto listings since 2025 are at a loss, report finds

Most cryptocurrency listings on major exchanges since 2025 have been unsuccessful, prompting exchanges to pivot to stock tokens as their next growth engine, CryptoSlate reported, citing a Delphi Consulting report. An analysis of 652 new cryptocurrency listings on five major exchanges—Binance, Bybit, Coinbase, Gate, and Kraken—found that only 12% generated a profit. The median return on these newly listed assets was -82%. While exchanges continue to list stock tokens, some have warned that the resulting profits primarily benefit stablecoin issuers, exchanges, custodians, and tokenization platforms, rather than creating demand for underlying cryptocurrency networks like Ethereum or Solana.