#代币估值与机制 I just saw a set of data that almost scared me... Among the new tokens issued in 2025, 84.7% of their FDV have broken out? What does this mean? It means that out of 5 new coins, 4 have fallen below their issuance price😰

The most heartbreaking part is those projects with over 90% decline, like Berachain, Animecoin—names I’ve heard of are actually among them. Overall, the FDV of these tokens shrank from $139 billion directly down to $54 billion, losing $87 billion just like that?

But after taking a closer look, it’s not all bad news. Aster increased by 745%, Yooldo Games rose by 538%. Do these projects have something in common? It seems they were all issued in the second half of the year, with relatively low valuation starting points? Does this mean there are still opportunities to pick up bargains, but you need to be more cautious when selecting projects?

I feel like I need to understand the difference between FDV and market cap better, and why so many new tokens are prone to breaking out. This seems pretty important for judging when to jump in and when to stay on the sidelines. Can anyone explain how to determine if a new project’s valuation is reasonable?