Launch Prices Crushed as 84.7% of 2025 Tokens Trade Below Launch Price

The crypto market has seen a harsh reality for new token launches in 2025. Of the 118 tokens analyzed, only 18 - about 15.3% - are still trading above their launch price. The median gain for these winners is 109.7%, while the losers have suffered a median loss of 76.8%. Roughly 65% of the launches have dropped by 50% or more from their token generation event (TGE) price, and 51% have fallen by 70% or more.

The data shows that certain categories fared worse than others. Infrastructure tokens, which make up the biggest batch with 46 launches, had a median fully diluted valuation drop of 72%. Artificial intelligence tokens did even worse, with a median drop of 82%, likely due to the hype surrounding these areas last year.

On the other hand, DeFi tokens - short for decentralized finance apps that handle lending and trading without a bank - performed relatively better. Of the 19 DeFi launches, the median drop was 52%, and 32% of them are still above their launch price. This is a higher success rate than most other categories.

The report also found that smaller token launches with valuations between $25 million and $200 million had a much better chance of holding their value. These tokens saw a median drop of only 26%, and 40% of them are still green. In contrast, bigger projects launched with valuations above $500 million to $940 million experienced a median drop of 82%, with only 3% staying positive.

The data suggests that the market is forcing a reality check on valuations, shaking out the projects that were priced too high from the start. The numbers clearly show that buying tokens right at launch has generally been a poor bet in 2025 - especially for high-profile, big-money projects.