Study · re-run every night · updated
What happens after an exchange lists or delists a coin that already trades?
566 listing and delisting articles from Binance, Bybit and OKX on coins that already traded, since 2019: each coin's move against the 300 most traded coins over the week before the article, on its day and after it. The clearest: after a Bybit spot listing, the coin did −16.5% against the market over the next 30 days (66 articles; 17% beat the market). Before it and on its day: coins getting a Bybit perpetual delisting did −7.7% against the market over the week before. Past patterns, not financial advice.
Articles
566
since 2019
After a Bybit spot listing
−16.5%
the next 30 days
Beat the market
17%
of those coins
Past the bar
3
of 25 windows
§ 01 · After the article
After the article
as of · our daily closes, Aug 17, 2017 to Oct 14, 2026
An article here is an exchange's own announcement that it will list or delist a coin, on spot or as a perpetual, dated by the article itself, on a coin that already traded somewhere for a week before it. From the close of the article's day: the coin's move over the next day, week and month, against the 300 most traded coins over the same days (equal weight). Each date counts once.
the next 30 days, against the marketthe week beforeunder each bar: its articles
| Article | Window | Articles | Against the market | Typical | Beat it | Older half | Newer half | Luck test |
|---|---|---|---|---|---|---|---|---|
| Binance spot listing | the next day | 75 | −0.6% | −1.0% | 41% | −1.0% | −0.2% | −0.6 |
| Binance spot listing | the next 7 days | 75 | +1.6% | −2.2% | 40% | +8.0% | −4.9% | 0.3 |
| Binance spot listing | the next 30 days | 73 | +3.4% | −10.9% | 34% | +10.8% | −4.0% | 0.5 |
| Binance perpetual listing | the next day | 43 | −2.4% | −1.6% | 35% | −0.3% | −4.4% | −2.1 |
| Binance perpetual listing | the next 7 days | 43 | −2.5% | −1.2% | 37% | +0.0% | −4.9% | −1.1 |
| Binance perpetual listing | the next 30 days | 43 | −3.5% | −12.3% | 33% | −3.8% | −3.3% | −1.2 |
| Bybit spot listing | the next day | 66 | −2.5% | −2.6% | 29% | +1.0% | −6.0% | −1.3 |
| Bybit spot listing | the next 7 days | 66 | −1.4% | −9.2% | 27% | +0.9% | −3.8% | −0.4 |
| Bybit spot listing | the next 30 days | 66 | −16.5% | −15.4% | 17% | −12.4% | −20.5% | −6.7 ✓ |
| Bybit perpetual listing | the next day | 90 | +1.1% | −1.5% | 42% | −0.2% | +2.4% | 0.8 |
| Bybit perpetual listing | the next 7 days | 90 | +5.1% | −4.9% | 33% | −1.6% | +11.7% | 1.3 |
| Bybit perpetual listing | the next 30 days | 90 | −0.0% | −15.9% | 32% | −4.8% | +4.8% | −0.0 |
| Bybit perpetual delisting | the next day | 97 | −1.1% | −1.1% | 37% | −2.8% | +0.6% | −1.0 |
| Bybit perpetual delisting | the next 7 days | 97 | −7.7% | −3.0% | 34% | −12.7% | −2.6% | −2.4 |
| Bybit perpetual delisting | the next 30 days | 96 | −5.4% | −5.4% | 34% | −10.2% | −0.9% | −2.2 |
Past the bar of 3.1 (✓) with both halves of the dates agreeing: Bybit spot listing, the next 30 days: −16.5%.
§ 02 · Before it
Before it and on its day
as of · the week before the article and its day
The same coins over the week before the article (did the news leak, or did the exchange list what was already running?) and on the article's day, whose close comes after the article whatever its hour.
| Article | Window | Articles | Against the market | Typical | Beat it | Older half | Newer half | Luck test |
|---|---|---|---|---|---|---|---|---|
| Binance spot listing | the week before | 75 | +13.8% | −0.6% | 47% | +18.5% | +9.1% | 2.2 |
| Binance spot listing | the article's day | 75 | +2.8% | −0.2% | 47% | −0.4% | +6.1% | 1.1 |
| Binance perpetual listing | the week before | 43 | +11.3% | +1.4% | 51% | +0.6% | +21.4% | 1.6 |
| Binance perpetual listing | the article's day | 43 | +5.5% | +1.4% | 58% | +2.7% | +8.2% | 1.5 |
| Bybit spot listing | the week before | 66 | +18.8% | +4.3% | 56% | +36.5% | +1.1% | 2.5 |
| Bybit spot listing | the article's day | 66 | −0.1% | −0.5% | 48% | +1.6% | −1.7% | −0.0 |
| Bybit perpetual listing | the week before | 90 | +40.7% | +14.0% | 70% | +28.6% | +52.8% | 3.7 ✓ |
| Bybit perpetual listing | the article's day | 90 | +8.7% | +1.6% | 58% | +1.2% | +16.2% | 2.4 |
| Bybit perpetual delisting | the week before | 101 | −7.7% | −2.6% | 33% | −10.0% | −5.4% | −3.7 ✓ |
| Bybit perpetual delisting | the article's day | 100 | −2.0% | −1.8% | 32% | −1.8% | −2.2% | −1.1 |
§ 03 · The newest
The newest articles
as of · and how their coins did since
- EPIC Binance spot delisting, Oct 14, 2026: the day −26.0%, since — against the market (0 days)
- BLAST Bybit perpetual delisting, Oct 3, 2026: the day −56.1%, since −56.0% against the market (11 days)
- HYPE Binance spot listing, Sep 24, 2026: the day −5.9%, since −6.4% against the market (20 days)
- DORA OKX spot delisting, Sep 23, 2026: the day −47.1%, since +23.9% against the market (21 days)
- STX Binance spot listing, Sep 18, 2026: the day +5.0%, since +46.3% against the market (26 days)
- DGAI Bybit perpetual listing, Sep 4, 2026: the day +0.8%, since +2.4% against the market (40 days)
§ 04 · How it is tested
How it is tested
as of · methodology
A luck test (t) says how far a result sits from zero, in units of its own noise: about 2 is rarely luck for one test, but many tests at once need more, which is what the first cut is for.
Each exchange and kind is its own group; a window needs 30 dates or more. With 25 such windows, a result needs a luck test of 3.09 or more (5% across all of them) and both halves of the dates on its side. A coin that stops trading counts at its last close, the way a delisting ends.
Our record holds today's coins and the ones with events on our calendar: a coin delisted and gone may be missing, which would make a delisting's fall look smaller, never bigger. Moves are before trading costs and funding; a coin just listed or being delisted can be hard or costly to short.
§ 05 · Revisions1 dated
Revisions
as of · every change to its headline numbers, dated
This study is re-run every night on the whole history. It was first written on Oct 15, 2026; its numbers last moved on Oct 15, 2026. Each night its headline numbers moved is listed here, newest first.
- past the bar: Bybit perpetual delisting, the week before down; Bybit perpetual listing, the week before up; Bybit spot listing, the next 30 days down
§ 06 · More
More research
as of