The TGE dream is officially broken.
By Maxime Laurent · 2026-02-06 08:22
The TGE dream is officially broken.
In 2025, 88% of tokens trade below their TGE price. Only 11.82% survived above launch levels. Brutal.
This number says more about the market than a thousand threads. For years, TGE meant hype, listings, instant liquidity. Now? It mostly means slow bleed. Two reasons, very simple, very unforgiving.
First: most projects never built real, sustainable revenue. Cool decks, shiny narratives, but nothing that actually earns. Second — and this one is key — even projects with revenue often failed to connect it to the token. Cash flow somewhere… token value nowhere.
And the market adapted. Quietly, ruthlessly. Investors have shifted their focus to late-stage projects: real products, real users, real income. Less dreams, more spreadsheets. “Idea on paper” doesn’t cut it anymore. Not in this environment.
This is painful for builders, sure. But it’s healthy. Crypto is growing up. Tokens are no longer magic lottery tickets — they’re claims that must be justified. Harsh, but fair. Fin du game pour le bullshit. 🧹
#crypto #tokens #tge #investing #markets #defi #venture #lessons
In 2025, 88% of tokens trade below their TGE price. Only 11.82% survived above launch levels. Brutal.
This number says more about the market than a thousand threads. For years, TGE meant hype, listings, instant liquidity. Now? It mostly means slow bleed. Two reasons, very simple, very unforgiving.
First: most projects never built real, sustainable revenue. Cool decks, shiny narratives, but nothing that actually earns. Second — and this one is key — even projects with revenue often failed to connect it to the token. Cash flow somewhere… token value nowhere.
And the market adapted. Quietly, ruthlessly. Investors have shifted their focus to late-stage projects: real products, real users, real income. Less dreams, more spreadsheets. “Idea on paper” doesn’t cut it anymore. Not in this environment.
This is painful for builders, sure. But it’s healthy. Crypto is growing up. Tokens are no longer magic lottery tickets — they’re claims that must be justified. Harsh, but fair. Fin du game pour le bullshit. 🧹
#crypto #tokens #tge #investing #markets #defi #venture #lessons
Disclaimer: This content is for informational purposes only and not financial advice.