Statistic: In 2025, it became the norm for new coins to experience a "price drop," with only 15% of projects having a Fully Diluted Valuation (FDV) higher than their Token Generation Event (TGE) period.

December 23: Per Ash (@ahboyash), among 118 new coins from 2025’s TGE, 84.7% (100 out of 118) have an FDV lower than their issuance valuation—roughly 4 in every 5 newly issued tokens now trading below their launch price-related metrics. The median FDV of these tokens has fallen 71% from issuance (with a median market cap drop of 67%). Only 15% of tokens have seen an FDV increase since TGE. On the underperforming end, 15 tokens have dropped over 90%, including notable projects like Berachain (-93%), Animecoin (-94%), and Bio Protocol (-93%). Overall, the total FDV of these tokens has shrunk from $139 billion at listing to $54 billion now—meaning roughly $87 billion (59%) of the “on-paper” FDV has evaporated (this figure excludes projects that have gone to zero). There are standouts too, mostly projects launched in the second half of 2025 with lower initial valuations: Aster (+745%), Yooldo Games (+538%), and Humanity (+323%).