End-of-year data analysis has been completed, reviewing the performance of the nine major mainstream exchanges' coin listings throughout the year, and the results are quite interesting.

What is the most intuitive finding? Currently, 83% of listed tokens have fallen below their issuance price. What does this indicate? It shows that not all coins on these platforms can make a profit.

Looking at the number of listed coins, the strategies of exchanges in 2025 have become completely differentiated. Leading platforms are pursuing a refined approach, while some small and medium exchanges have chosen a "broad net" strategy—one platform's coin count has already reached the 1000+ level. This approach can attract more new project teams and retail traffic, but the risks are also obvious.

Meanwhile, many mid-tier exchanges are also following suit, attempting to gain market share by increasing their coin listings. An interesting contrast has formed across the industry: do you prefer curated selections or quantity? Each has its own strategy.

The core logic behind this is simple—when market competition intensifies, platforms must focus on differentiation strategies. Some rely on quality to earn reputation, while others rely on quantity to attract traffic. Who will ultimately come out on top depends on the quality of the tokens themselves and user choices.