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2025 New Coin Catastrophe: 84.7% fall below the issue price, 87 billion FDV evaporated
【Block Rhythm】The new coin market in 2025 is a bit bleak. According to data statistics, among the 118 new coins with TGE this year, 100 of them now have FDV below their issuance price, accounting for 84.7%. In other words, out of every 5 newly issued coins, 4 are trapped.
How exaggerated is the decline? The median drop is 71%. The median market capitalization hasn't fared much better, dropping by 67%. Only 18 tokens (about 15%) managed to rise after issuance, while the rest are either stagnant or continue to fall.
The most heartbreaking are those projects that have fallen more than 90%. There are a total of 15 such “grim reapers”, including Berachain (-93%), Animecoin (-94%), and Bio Protocol (-93%), which were once heavily hyped projects. From these few names, we can see how great the gap was between the market's initial expectations and the reality.
The entire market cap has shrunk quickly: the total FDV at the time of listing was 139 billion USD, and now it is only 54 billion USD. This means that about 87 billion USD of “paper” market value has directly evaporated, accounting for 59%. If the algorithm hadn't eliminated those projects that completely went to zero, the numbers would be even scarier.
However, there are exceptions to everything. A few projects have risen against the trend, mainly those with low initial valuations that are scheduled for issuance in the second half of 2025. For example, Aster increased by 745%, Yooldo Games by 538%, and Humanity also saw a 323% increase. These winners tell us a truth: entering at low levels and avoiding high valuation traps is the correct way to approach new coin investments.