Direct listing refers to a method by which a cryptocurrency project can make its tokens available for trading without going through a traditional initial coin offering (ICO) or a token sale. Instead of raising funds by selling tokens to investors beforehand, a direct listing allows existing token holders to sell their tokens directly on an exchange.In this process, the project typically complies with regulatory requirements and lists the tokens on a decentralized or centralized exchange. The market then determines the value of the tokens based on supply and demand, rather than a predetermined price set during a private sale.This approach can provide immediate liquidity for token holders and bypasses some of the marketing and pre-sale activities associated with ICOs. However, it also means that there may be less price stabilization in the initial trading phase, as the market has more influence on the token’s price right from the start. Direct listings can be appealing for projects that want to maintain transparency and avoid the hype that often surrounds traditional fundraising methods.