Bybit has launched a new comprehensive cryptocurrency listing and delisting framework in a bid to enhance user protection.
The exchange, which is the world’s second-largest by trading volume, announced the changes at a news conference on Aug. 13. statementIn the statement, Bybit said it now controls more than 20% of the spot market share and had listed 151 new tokens in 2024 alone.
Given its growing presence in the sector, Bybitwhich was created in March 2018, said it feels a greater sense of responsibility to ensure transparency and security in its operations.
As such, the exchange has created a new framework for listing and delisting digital assets that includes several components it says are designed to protect users and maintain market integrity.
A central element of the new initiative is a pre-market mechanism aimed at stopping market manipulation by creating a more orderly trading environment. Bybit claimed that the feature will bridge the gap between the primary and secondary markets, something that would allow for a smoother transition of newly listed tokens.
Additionally, Bybit’s new framework will put an emphasis on continuous compliance monitoring, with the cryptocurrency exchange conducting regular audits of listed projects to ensure they continue to meet its criteria.
Additionally, Bybit has said it will implement clear delisting protocols to remove underperforming or non-compliant projects from the platform.
According to the exchange, it will base the delisting protocols on performance metrics it will clearly define, as well as compliance controls to ensure that only trusted and secure tokens remain available for trading.
Many new cryptocurrencies tend to experience a post-listing crash, especially when the pre-listing hype wears off. One such example is a recent analysis by Coin98 that reported by crypto.news. It indicated that almost all crypto tokens listed by Binance in 2024 were in the red, with several losing more than 90% of their value since being listed.
In May, Binance It also took similar steps to overhaul its token listing model. The world’s leading cryptocurrency exchange said it would increase its support for small- and medium-value projects through its Launchpool or Megadrop outlets.
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