According to TechFlow, Haseeb, managing partner of Dragonfly, said that many founders tried to launch tokens during the bull market, but these tokens still had to go through a bear market in the end. He is skeptical about the impact of market cycles on the long-term value of tokens, and believes that this suggests that some tokens systematically perform poorly due to the market cycle at the time of issuance, which is unlikely.
In response to a user's question about whether the issuance of tokens in a bull market will contribute to long-term value, Haseeb said that although tokens issued in a bull market may have more funds for growth, market competition is relative. If the market falls by 50%, the native token ecological fund will also fall by 50%, and the market share will remain relatively unchanged.
Haseeb stressed that the timing of fundraising events does matter, but he was discussing token offerings (TGEs), which are more akin to direct listings than fundraising events.
