A Token's 28-Day Journey from Coinbase to Upbit: Decoding the CEX Listing Path in 2026

In the bear market of 2026, CEX listing logic shifted from traffic-driven to verification-driven. Analyzing 207 listing events, this article maps the roles of Coinbase, Binance Spot, ByBit, OKX, Bithumb, Upbit, and Binance Perpetual, revealing a typical 28-day token journey from first listing to final bag-holding.