• Crypto capital rotates from tokens to stocks as new launches struggle: DWF More than 80% of 2025 token launches trade below listing price while IPO funding and M&A in the crypto sector surge, suggesting that investors prefer equity exposure. • Cointelegraph in your social feed Investor capital increasingly flows from tokens into publicly listed crypto companies as new token launches struggle, according to research and commentary from market maker DWF Labs. • Drawing on Memento Researchdatacovering hundreds of token launches across major centralized and decentralized exchanges, the firmsaidmore than 80% of projects have fallen below their token generation event (TGE) price. • Typical drawdowns range between 50% and 70% within roughly 90 days of listing, suggesting public buyers often face immediate losses after launch. • DWF Labs managing partner Andrei Grachev told Cointelegraph that the figures reflect a consistent post-listing pattern rather than short-term market volatility. • He said most tokens reach a price peak within the first month and then trend downward as selling pressure builds.
Article Summaries:
- Investor capital is increasingly moving from new token launches into publicly listed crypto companies, according to research by DWF Labs. Their analysis of hundreds of token listings shows that over 80 % of projects trade below their token‑generation‑event price, with typical drawdowns of 50‑70 % within 90 days. In contrast, crypto‑related IPOs raised $14.6 billion in 2025-up sharply from the previous year-while M&A activity hit $42.5 billion, the highest in five years. DWF notes that public equities trade at higher price‑to‑sales multiples (7‑40×) than tokens (2‑16×), driven by institutional access and regulatory clarity. The shift is described as a rotation toward more regulated, equity‑wrapped crypto businesses.
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