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      GSR Report Reveals Decline in Median Token Prices Post-Listing

      Cryptocurrency trading and market-making firm GSR has published a report analyzing over 2,300 token listings from major exchanges since 2013, including data on delisted tokens. The report, authored by Chief Legal and Strategy Officer Josh Riezman and Research Analyst Slater Santer, highlights a significant trend: the median price of tokens falls below their issue price within three days of listing.

      The findings indicate a notable decline in median circulating supply at the time of listing, which decreased from 38% in 2017 to just 13% in 2020. Although there has been some recovery in subsequent years, the median circulating supply has remained in the low teens to just above twenty percent. The report also correlates the median circulating supply with the issuance fully diluted valuation (FDV), revealing that tokens with an FDV exceeding $1 billion had a median return of -81% after one year.

      Further analysis shows that tokens with a circulating supply below 20% experienced a loss of approximately 75% after one year, while those with a circulating supply between 30% and 50% lost about 45%. After one year, the median value for tokens with an FDV over $1 billion was around $0.19, while those with a circulating supply below 20% retained a value of approximately $0.23 to $0.26, and those with a 30% to 50% circulating supply retained about $0.55.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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