Many highly anticipated new projects have been launched this year, but in this era of overvaluation, most of these projects quickly reached their peak prices after opening and then declined steadily. Despite the saying in the cryptocurrency market that “speculate on new projects, not old ones,” even in a bull market, these tokens do not seem to have enough buying support.
According to information shared by cryptocurrency researcher Ignas, several well-known projects launched this year have seen an average decline of 63.6% from their historical highs. Additionally, the average circulation rate of these tokens is only 13.6%, indicating that many tokens are still locked and have not been unlocked, which will further contribute to downward pressure in the future, making it even more difficult to return to historical highs.
