New token listings on major centralized exchanges declined to 351 in Q2 2026, the lowest quarterly total since Q3 2023, according to data compiled via the CryptoRank API. The drop marks a further step down after 2025’s record-setting surge, with delistings again failing to overwhelm new additions in most quarters—an important sign that the listing pipeline is normalizing rather than collapsing.
CryptoRank data covering Q1 2024 through Q2 2026 shows exchanges almost always added more tokens than they removed. The only quarters where delistings exceeded new listings were Q2 2025 and Q2 2026, with Q2 2025 understood to have been driven by a one-off removals wave rather than a broad-based deterioration in demand for listings.
Key takeaways
- Price move: Not applicable—this is a market-structure data update on centralized exchange token listings and delistings.
- Catalyst: CryptoRank’s count shows new listings fell for a second consecutive quarter to 351 in Q2 2026, while delistings did not broadly outpace listings.
- Key implication: The exchange listing pipeline appears to be cooling after the 2025 boom, with unwinding concentrated in categories that were most aggressively added during the cycle.
- Notable exception: Tokenized assets show zero delistings as of mid-2026, suggesting a more durable listing standard for that segment.
What the listings data shows
CryptoRank API data indicates that Q2 2026 delivered the fewest new token listings in nearly three years. It was also only the second quarter since 2024 in which delistings outpaced new listings, underscoring that—at the aggregate level—exchanges have generally continued to list net-positive numbers of tokens.
Looking across the full period from Q1 2024 to Q2 2026, delistings exceeded listings in just two quarters. In Q2 2025, that imbalance was attributed to a temporary, large-scale removal effort, rather than a sustained shift in the broader market’s willingness to onboard new assets. As a result, Q2 2026’s weaker listing totals are viewed by market watchers as a more meaningful reflection of where the pipeline stands after the record run in 2025.
Which categories were cut first after the 2025 boom
CryptoRank data for 2025 shows the market’s listing activity concentrated heavily in narrative-driven segments that gained traction as the cycle peaked. The categories most represented in 2025 listings included DeFi, Meme, and Blockchain, while other high-volume segments spanned Infrastructure and GameFi.
However, the same categories appear to have faced higher delisting pressure as exchanges began trimming exposure following the boom. NFT, GameFi, and Meme—together with other high-output segments—register the higher delisting percentages among the categories shown:
- NFT: 19% delisted (5 delisted out of 26 listed in 2025)
- GameFi: 14% delisted (27 delisted out of 190 listed)
- Meme: 11% delisted (40 delisted out of 360 listed)
- RWA: 9% delisted (3 delisted out of 34 listed)
- Infrastructure: 9% delisted (22 delisted out of 247 listed)
- DeFi: 7% delisted (33 delisted out of 499 listed)
Other segments with lower delisting rates in the table included DePIN (7%), AI (5%), and Blockchain (4%). CryptoRank reports that, as of mid-2026, only 6.8% of the tokens listed in 2025 had been delisted overall—indicating that while the market has seen cleanup, the broader unwind has not yet removed the majority of listings.
Why the category pattern matters for investors
As of mid-2026, the delisting outcomes vary sharply by category. NFT projects show the highest delisting rate in the dataset presented, even though the category represented a smaller share of 2025 listings relative to higher-volume segments like DeFi or Meme. For investors, this kind of divergence typically points to differences in liquidity depth, compliance scrutiny, and business durability across segments—factors that often drive exchange decisions when market conditions cool.
At the same time, CryptoRank’s figures suggest that the categories most aggressively built up during the 2025 peak—NFT, GameFi, and Meme—are also among the first to be unwound. That alignment implies exchanges have been working through listings added during the cycle’s highest-growth phase rather than broadly changing their standards across the entire token universe at once.
The notable outlier is tokenized assets. Despite appearing among the most-listed categories in 2025, CryptoRank data shows no tokenized asset listings had been delisted by mid-2026. This contrast suggests a different—and potentially more conservative—listing and retention approach for assets perceived as meeting more stable requirements.
Bigger picture: the listing pipeline after the 2025 surge
The key macro takeaway from CryptoRank’s dataset is that the post-boom environment has shifted from expansion to moderation. With Q2 2026 delivering the weakest quarterly listing count since Q3 2023—and after activity peaked in 2025—the market’s onboarding engine appears to be operating at a slower pace.
For participants monitoring the sector, the “net listings vs. delistings” pattern remains central. Since delistings have generally remained below listings across most quarters, the current phase looks more like selective cleanup than a broad withdrawal from token onboarding—though Q2 2026’s weak listing total signals exchanges are still cautious about adding new assets.
What to watch next: Investors will likely focus on whether new listings continue to fall in subsequent quarters and whether delistings remain concentrated in the most cycle-sensitive categories. Upcoming catalysts include broader crypto market momentum tied to Bitcoin’s trend, as well as regulatory and exchange policy updates that can directly affect listing acceptance criteria and removal schedules.
