There have been many highly anticipated new projects issuing coins so far this year, but in this era of high valuations, most projects reached the peak of their currency prices soon after opening, and then all the way down. Although there is a saying in the cryptocurrency market that "speculate on the new, not the old", even in the bull market, these tokens do not seem to have enough power to take over.
According to information shared by cryptocurrency researcher Ignas, several well-known projects issued so far this year have experienced an average decline of 63.6% from their historical highs, and the average circulation rate of these tokens is only 13.6%, indicating that there are still many tokens. The locked position has not yet been unlocked, which will cause further downward pressure in the future, making it more difficult to return to historical highs.
Price performance of recently launched low-float tokens.On average, they're down by 63.6%.With only 13.6% of the total supply circulating on average, who will pump our bags?Please send thoughts and prayers pic.twitter.com/U0NPITi5t3
â Ignace | DeFi Research (@DefiIgnas) May 14,
Is this article hyping the new or not the old? The average decline of new projects exceeds 60%; high valuation and low circulation, retail investors are discouraged. First appeared in Zombit.