2025 Crypto Listings: Median ROI Below 0.5x Signals Challenges for Buy-and-Hold Strategies in Altcoins

The 2025 crypto token listings delivered dismal post-launch performance, with the vast majority of new altcoins declining sharply on major platforms. This widespread underperformance has sparked intense discussion about the viability of traditional passive strategies like buy-and-hold (or HODL) in the current cryptocurrency landscape.

Broad-Based Weakness in New Token Launches Across Exchanges

Data compiled by CryptoRank reveals a tough year for freshly listed cryptocurrencies in 2025. On centralized exchanges (CEXs), the majority of additions ended the period trading below their debut prices.

• Binance introduced around 100 new tokens, but 93 finished in negative territory, yielding a median ROI of just 0.22x—meaning the average project shed roughly 78% of its listing value.
• Bybit added 150 tokens, with 127 declining and a median ROI of 0.23x.
• MEXC led volume with 878 listings, yet 747 traded lower, delivering a median ROI of 0.21x.
• Coinbase performed relatively better among majors, listing 111 tokens where 94 dropped, but still posted a median ROI of only 0.43x—the strongest figure among prominent CEXs.
• Kraken showed a median ROI of 0.30x, though negative outcomes prevailed for most additions.

Overlaps in listings across platforms point to systemic issues rather than platform-specific problems. The pattern extended beyond CEXs to decentralized venues. CryptoRank’s comparison of Binance results against Hyperliquid (a leading perpetuals DEX) showed nearly identical weak outcomes, countering claims that exchange quality alone drove the poor results.

This uniformity suggests broader market dynamics at play, including oversupply and selective investor interest.

Record Token Flood Contributes to Poor Outcomes

CryptoRank highlighted an explosion in supply: over 11 million new tokens flooded the ecosystem in 2025. Many fell into the low-quality category—lacking strong fundamentals, utility, or community support—leading to rapid value erosion.

As one analysis summarized, 2025 proved particularly unfavorable for long-term holding of newly launched assets. The sheer volume diluted attention and capital, making sustained price appreciation rare outside select high-conviction projects.

Market context reinforces this view. Total crypto capitalization hovered around $2.95–$3.1 trillion in early January 2026 (down from roughly $3.3 trillion at the start of 2025), reflecting a contraction of over $1 trillion since late 2025 peaks. This environment amplified pressure on speculative listings.

Rethinking Passive Strategies: Is Buy-and-Hold Still Effective?

The data has prompted analysts to reassess classic approaches like buy-and-hold and dollar-cost averaging (DCA).

Critics argue these tactics thrived in crypto’s earlier discovery phase, when the sector attracted organic growth and less sophisticated competition. Today, participants face professional funds, high-frequency algorithms, and opportunistic actors that exploit retail conviction for liquidity.

One prominent view frames holding broadly as lacking active management: it assumes a passive market that no longer exists in crypto, where conviction often becomes exit liquidity for others.

Former Binance CEO Changpeng Zhao provided balance, noting that buy-and-hold was never designed for universal application across all assets. Blindly holding every token mirrors investing in every early internet or AI venture—most fail, dragging averages down. Selective focus on quality projects with durable advantages may preserve the strategy’s relevance.

Implications for Crypto Investors in 2026

The 2025 results underscore a maturing but challenging market. Success increasingly hinges on rigorous project evaluation, timing, risk management, and avoiding saturation-driven dilution. While blue-chip assets like Bitcoin and Ethereum retain long-term appeal for many, altcoin speculation demands more dynamic tactics than simple holding.

Investors should weigh these trends when building portfolios: prioritize fundamentals, monitor supply dynamics, and adapt beyond outdated “set-it-and-forget-it” mindsets in a hyper-competitive space.

Disclaimer: 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.