Simplicity Group Research recently did a study that showed Bybit to be the best exchange for day-one token price performance, beating out big rivals like Binance and Coinbase. On several cryptocurrency exchanges, such as Binance, Coinbase, OKX, Gate.io, MEXC, Bybit, and KuCoin, the study looked at how the prices of recently listed tokens changed over time.
The clear winner was Bybit, whose token prices rose by an average of 2,738% on the first day. With this huge rise, Bybit is now ahead of Binance, which saw an average rise of 111%, and Coinbase, which only saw a 24% gain on the first day. Such strong success on the first day shows how much promise there is for short-term traders.
Even though these gains are good, the study warns of the extreme instability that often happens after price spikes. For example, the value of Bybit’s tokens dropped by a huge 1,906% from day one to day two, and then dropped another 313% by the end of day two. It shows how important liquidity and market security are, since things can change a lot in the first 48 hours after a token is listed.
The fact that people keep buying new tokens on Bybit shows that the platform has a lot of liquidity, but the study stresses that keeping prices stable is still a problem. When compared to other platforms like KuCoin and OKX, where prices were more stable during the first week, Bybit tokens saw the biggest drops.
The study comes to the conclusion that buyers should be careful because the market is naturally volatile, even though Bybit’s strong performance on the first day is noteworthy. The study also says that future research could benefit from a more in-depth look at tokens that have the same listing dates on multiple markets. This would give researchers a better idea of how each platform works.
Overall, buyers can benefit from Bybit’s dominance in price spikes on the first day, but they should be careful when dealing with the unpredictable price changes that follow.
