Report: USDT and USDC account for 66.6% of the top 12 CEX trading pairs; only 32% of new tokens recorded positive returns immediately after listing.

CoinFeed reported on April 14th that, according to CoinGecko's 2026 report on centralized spot exchanges, USDT and USDC account for 66.6% of all trading pairs on the top 12 CEXs. Only about 32% of newly listed tokens recorded positive returns immediately after listing, with Upbit leading the pack at 67%, followed by Binance and OKX at 50%. Twelve months after listing, most exchanges have less than 10% of their tokens still trading above their listing price. Between 2024 and 2026, the underlying asset value of the top 12 CEXs will increase from $152.1 billion to $225.4 billion, with Binance's reserves doubling to $93.4 billion. Coinbase holds the largest Bitcoin reserves (over 800,000 coins). Retail-driven exchanges have higher reserve utilization rates than institutionally preferred exchanges, with MEXC, HTX, and KuCoin having asset turnover rates between 1.44 and 2.04.