Binance, FTX and Poloniex are most active crypto exchanges for listing DeFi tokens

Crypto exchanges Binance, FTX and Poloniex are most active when it comes to listing decentralized finance (DeFi) governance tokens, according to The Block Research.

Binance has already listed nine out of 13 DeFi tokens, including Maker and Compound. FTX follows next in Tier-1 category of exchanges with six listings, and Poloniex is at the top in Tier-2 category with 11 listings.

Coinbase, on the other hand, has listed four DeFi tokens thus far — Maker, Compound, Kyber, and 0x. Gemini and Bitstamp are yet to move — this reflects with their broader strategy of listing large coins that attract volume, according to The Block's Larry Cermak.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

There are also many Tier-3 crypto exchanges that have listed nearly all DeFi tokens. However, these exchanges don't have reliable volume and tend to be illiquid, per Cermak.

Source: The Block Research

DeFi tokens have been seen to jump in price after their listing on Binance or Coinbase. For instance, Binance recently listed Balancer's BAL token and Yearn. Finance's YFI token and both have increased by at least 50% since their listing.

To read the full report and more such data-driven stories, subscribe to The Block Research.

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.