Some of the biggest cryptocurrency exchanges allegedly ask for hundreds of millions of dollars for new token listings.
While Sun’s comments may lack evidence, they come as a surprising development, considering that Coinbase claims to charge no fees for listing new cryptocurrencies.
“Asset listings on Coinbase are free,” Coinbase co-founder and CEO Brian Armstrong wrote in a Nov. 2 X post.
Cointelegraph has approached Coinbase and Binance for comment but received no replies by time of publishing.
Fantom token listing allegedly costs up to $300 million — Andre Cronje
Tron founder Sun was not the only crypto personality who made claims about token listing fees.
Cronje listing fee allegations. Source: Andre Cronje
Previously, Cronje founded Yearn.finance and the Keep3r Network.
Are CEX listing fees setting the stage for a DEX takeover?
Following Sun and Cronje’s initial replies, hundreds of others have voiced their concerns over the sustainability of current CEXs.
If confirmed, these rumors could set the stage for an expanding DEX landscape, responded crypto trader, analyst and entrepreneur Michaël van de Poppe in an Oct. 31 X post:
“I think that the DEXes are going to be way bigger as people are completely fed up with this structure. Exchanges have the power to literally kill your project.”
Over the past year, DEX trading volumes grew “significantly larger,” surpassing the monthly $250 billion mark in March and June for the first time since December 2021, accordingao an 0XScope research report shared with Cointelegraph.
As of Oct. 17, the DEX spot trading volume in relation to CEXs was at 13.6%, meaning that for every $1 billion traded on centralized exchanges, there is $136 million being traded on decentralized platforms.
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