According to a new Simplicity Group Research analysis, Bybit’s tokens experienced an incredible Day 1 price increase of nearly 2,700%, surpassing rivals including Binance and Coinbase.
Examining token price fluctuations across many big exchanges—including Binance, Coinbase, OKX, Gate.io, MEXC, Bybit, and KuCoin—the research highlights Bybit as the top performer on Day 1. Of the eight exchanges examined, token Day 1 average token price gain of 2,738% ranked highest.
“Even after removing statistical outliers, Bybit continued to show exceptional Day 1 performance compared to other major exchanges.”
Bybit’s Price Volatility Insights
By contrast, Binance witnessed an average boost of 111% while Coinbase just saw a 24% increase. Coinbase’s average token price dropped 1.87% over the next week; token price dropped 2,200% from its Day 1 peak, so finishing the first week with a 539% gain.
“Bybit’s sustained price action highlights strong liquidity and ongoing demand for newly listed tokens.”
Emphasizing the volatility in token values, the research notes a 1,906% average reduction in Token token price from Day 1 to Day 2. Token pricing were more erratic unlike KuCoin and OKX, which showed more consistent price fluctuations. The paper also emphasizes the crucial part liquidity plays in early price swings but notes that its influence decreases greatly after the first day.
The paper emphasizes generally that performance across exchanges is erratic and that major platforms like Binance and Coinbase do not regularly produce the major price jumps following token debuts.
