#冲币新时代 Token Era” reflects the current trend in the cryptocurrency market driven by fast trading, the pursuit of new tokens, and technological innovation. Based on search results, here are the key dynamics and strategic analysis in this field:

1. Exchange strategy differentiation: Balancing the number of new listings and returns

1. Comparison of aggressive and cautious listing strategies

Bitget occupies a market share with an aggressive listing strategy of 339 new tokens throughout the year, but the average return rate of these tokens is -46.50%, indicating high-risk characteristics.

Binance and OKX focus more on quality, listing 44 and 47 tokens respectively, with an average return rate of about -27%, demonstrating more stable performance in a bear market, reflecting the efficiency of their screening mechanisms.