[IOSG Founding Partner: Listing Tokens is No Longer a Universal Profit Opportunity, but an Exit Window for Early Holders] BlockBeats News, June 4 — Jocy, the founding partner of IOSG, posted on social media that their team analyzed token listing data from six major trading platforms, including spot markets and Binance Perp, from 2026 to the present. The analysis covered 207 listing records and 92 unique tokens. The data shows that, based on the average return 30 days after listing, none of the trading platforms recorded positive returns. Jocy believes that in this bear market cycle, new token listings no longer represent universal profit opportunities but have instead become exit windows for early holders, including project teams, institutions, and early players. However, the data also reveals a highly structured token listing transmission chain: Coinbase and Bybit take on early price discovery, Binance Perps validate liquidity within a few days, Binance spot listings typically confirm after a pullback, and Korean trading platforms systematically act as the final high-level receivers. A token typically takes just over 20 days to move from its initial listing to Korean trading platforms, during which its price generally completes a full cycle. Jocy noted that for the same token and under the same market conditions, differences in trading platform selection and entry timing can result in a return disparity of up to 4.5 percentage points after 14 days. Jocy concluded that in 2026, 'where a token is listed' will have a greater impact on trading outcomes than 'which token is listed.' [Original Link]