Binance vs Bybit Listings: Understanding the Major Trends this Year

Introduction

Binance is one of the biggest and most well-known exchanges in the world, offering a vast number of trading pairs, and famous for listing many tokens. On the contrary, Bybit has gained popularity thanks to its user-friendly interface and emphasis on perpetual contracts, which has mainly attracted derivatives traders. We compare the token listings on Binance and Bybit over the past year exploring the trends, strategies, and implications of how they approach new token integrations in this article.

Criteria for Token Listings on Binance and Bybit

Token listing on major exchanges like Binance and Bybit is a painstaking process with strict parameters designed to bring on the best cryptocurrencies. Projects to be listed on Binance undergo a long evaluation process which includes a thorough review of their market capitalization, liquidity, and community support. More specifically, Binance seeks tokens with high trading volumes and a strong market presence. The application must be submitted in an official form, describing the fundamentals of the project, use case, and status of compliance. Binance also has specific listing fees, which change based on the project’s profile and are often negotiated on a case-by-case basis. Also, companies must show commitment to regulatory compliance and security for users. Unlike Binance, Bybit’s token listing strategy is more dynamic and driven by its Token Management Rules. And like Binance, Bybit considers market performance, trading volume, and liquidity, whilst emphasizing innovative technologies and the token’s unique value proposition. Bybit is pretty straightforward with fees and most fixed fees associated with the listing to streamline the onboarding process of promising tokens.

Common Patterns in Listed Tokens on Binance and Bybit

Certain patterns and trends can be observed from our analysis of listed tokens on Binance and Bybit. DeFi (Decentralized Finance) and GameFi (Blockchain-based gaming) account for a larger proportion of the tokens listed on both exchanges, attesting to the rising significance and innovation in both sub-industries. 22% of tokens listed on Binance are DeFi tokens while GameFi accounts for 19.5%. Bybit also has a record 20.6% for DeFi and an even higher 22.3% for GameFi affirming the growing interest in these token categories.

Blockchain tokens and coins are also prevalent, particularly on Binance (19.5%), implying a notable interest in infrastructure. A similar trend is observable on Bybit, with 12.6% of its listings dedicated to Chain tokens. Coming closely to the aforementioned token categories is Blockchain Infrastructure, which is likely gaining prominence for its contribution towards more resilient and scalable networks that fuel the growth of DeFi and GameFi innovations.

Furthermore, there is a growing trend of meme tokens, evidenced by the roughly 14.6% of meme listings on Binance and 11.4 % on Bybit. Meme listing indicates a cultural phenomenon in community-driven tokens, powered by social media trends and online communities.

However, NFT (Non-Fungible Tokens) listings are significantly low, with a relative 4.9% on Binance and 2.9% on ByBit. Such a decline may mean that the market is turning away from speculative collectibles towards more utility-driven tokens. Additionally, Stablecoins and tokens of Social platforms are less represented, especially on Binance which could be a strategic way of shying away from repetitive ideas with lesser intrinsic value.

Comparative Outcome Post-Listing

Trends in the analysis of post-listing performance for tokens on exchanges are worth examining. Average price changes displayed on the Bybit and Binance charts are quite different, with Binance beating the Bybit average by 1,487% to 443%.

In addition, Bybit has a greater maximum price change after listing with Meme  increasing 57,253% after listing compared to Binance’s 38,791 for the same token. Both exchanges have, however, maintained stability as no tokens listed in the past year have been delisted from either platform. Additionally, the statistical values of Bybit of 12.52 and Binance of 5.22 suggest that large gains are common in most cases but there were more extreme spikes on tokens listed on ByBit. The two-sided implication of this is that buying tokens on Binance is likely less risky compared to buying on ByBit, although there could be more potential gains from buying tokens on Bybit.

Latest Listings

While we worked on this article a couple of tokens got listed on Binance and Bybit. The most noteworthy mentions are Movement Labs MOVE token which currently ranks #62 on CryptoRank.io. The project is the first MOVEVM ZK layer 2 scaling solution designed to scale Ethereum to billions of users with its secure and scalable programming language, MOVE. MOVE currently boasts a whopping $2.1 billion market capitalization. Next is Magic Eden’s ME token with a current market capitalization of $430 million.

Output

The analysis reveals a notable trend of token listings on Binance and Bybit, hinting at a growing interest in Chain tokens which make up 19.5% and 12.6% of token listings respectively. This prevalence underscores the role of infrastructure in the rapidly growing cryptocurrency ecosystem. Blockchain Infrastructure continues to garner more attention, indicating a shift to more resilient and scalable networks that will be necessary to support DeFi and GameFi innovations. 

Binance focuses on the project market presence and trading volume, while Bybit emphasizes innovation and technology. The growing popularity of meme tokens is a result of a cultural shift driven by community engagement. These trends hint to token issuers that without aligning with foundational technologies visibility and adoption will wane. Investors are advised to pay keen attention to the growing focus on infrastructure which could present the future promise of emerging sectors. In general, this shows how the cryptocurrency market is very dynamic and how it needs agile people and well-informed people to make the right decisions. As the landscape continues on its path of transformation, these trends will be core to understanding the potential of future listing and finding the next 100x gem.