Odaily Planet Daily News Binance Research Institute recently stated in a report that the prevalence of high-valuation and low initial circulation tokens has been a topic of discussion in the crypto community in recent months. This stems from concerns that such a market structure leaves little room for traders to rise sustainably after the token generation event (TGE). Data from CoinMarketCap and Token Unlocks confirm that the trend of tokens being issued with low circulation supply and high valuations is growing. It is worth noting that tokens worth approximately $155 billion are expected to be unlocked between 2024 and 2030. A large number of tokens entering the market will create selling pressure if there is no corresponding increase in buyer demand and capital flows. Factors such as private market capital inflows, aggressive valuations, and optimistic market sentiment have contributed to the issuance trend of high FDV tokens. The current market landscape requires investors to have the ability to select and discern when considering the fundamentals of a project, such as token economics, valuation, and products. Project teams may also need to consider the long-term impact of decisions related to token economics design. VCs continue to play an important role in the crypto industry and can work with project teams to ensure fair supply distribution and reasonable valuations.