The year 2025 began with a significant boost in the crypto market, receiving momentum from the bullish trend in 2024, but concerns remain regarding sentiment. A report titled 'Listing Performance Q1 2025' by Animoca Brands analyzed 770 listing events that occurred across various exchanges, highlighting significant changes. The analysis indicates a total of 364 listing events, showing bullish momentum in January, but bearish narratives and market corrections caused listing numbers to decrease in February, even on platforms like Binance, Coinbase, and Upbit.
The market showed signs of consolidation, with increased buying in the 24 hours following listings, especially for tokens with a Fully Diluted Valuation (FDV) greater than 500 million dollars; however, price performance within 7 days remained closely tied to overall market sentiment. In the CEX landscape, OKX stood out for its token listing performance in January, with FDV over 4.1 billion dollars, while Binance and others showed lower performance, suggesting a shift in selection criteria towards those with high market value.
Coinbase's involvement shows new trends: platforms are more interested in listing tokens with FDV in the upper range (3.3 billion), especially in the initial trading stages, indicating a shift in user preferences on these platforms. MEXC, although ranking lower in total listings (289), experienced a smaller decrease compared to the values of February 2024, dropping from 112 to 96 listings; Binance, on the other hand, improved its listing performance, partly due to the new 'Vote to List' initiative, which involves the community in the token selection process.
Despite overall concerns, the token TRUMP generated hype with FDV starting at 50 million dollars, achieving trading volumes of 11 million on Binance, 4.5 million on OKX, and 2 million on Bybit on launch day, indicating significant initial interest, although its performance was overshadowed by overall market conditions. Among the 770 listing events, 378 were identified as 'primary' (occurring in the first two days after the token launch), while 392 were 'secondary' (related to tokens already present on other exchanges).
The analysis of FDV shows that the concentration of high market value is still crucial for improving the performance of tokens listed on exchanges, reflecting a consolidation of sentiment and the impact of 'network' effects in driving listing performance on various platforms. However, even among 30 to 500 million, there were significant differences compared to 2024: Binance and OKX had higher correlations in the 30-100 million range, while Bithumb, Upbit, and Coinbase ranged from 100 to 500 million.
The buying pressure in the 24 hours after listing was second only to January 2024, and overall in March 2025, the trend saw non-significant gains but from TRUMP but still from the group of tokens with high market value and the involvement of users that improves the exchange's trading. February saw a decrease in some of the 'primary', but the exact cause occurred in March, although even tokens with high FDV also had lower sentiment than after the listing.
Prices of tokens in the 7 days after the listing have a stronger correlation with the overall market: it was bullish in March 2025, from January and February's revenue, but also showed the sentiment that had decreased in February and March, with a slight boost from the trading.
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KUB is considered a key component of the Bitkub chain and a cryptocurrency that has grown significantly this day, with prices rising over 10% in the past 24 hours and reaching 56 baht again in recent times. KUB is soaring! Following Bitcoin's return to nearly 100,000 dollars, the rise of KUB might be a sign of Bitcoin's return to the 100,000 dollars mark, as prices often correlate, especially after experiencing fluctuations.
Analysts believe that the confidence returning to the overall market could significantly benefit altcoins, especially those associated with platforms like KUB, following Bitcoin's path due to increased confidence. Is Altcoin Season starting? KUB leads Thai tokens up. The rise of KUB is a sign that the 'Altcoin Season' is starting for Thai tokens, as many investors are optimistic that altcoins will outperform Bitcoin, especially with potential catalysts.
If Bitcoin reaches new highs and starts consolidating, investment money will flow to altcoins, starting with those with large Market Caps, then smaller ones, including tokens on the Bitkub chain like KUB. KUB's rise is influenced by Bitcoin's recovery to nearly 100,000 dollars, a potential catalyst. The article was published on May 10, 2025, and references the price increase of KUB in the past 24 hours.
