Most TGE projects in 2025 have failed to meet expectations.

Tracked 118 TGE launches this year and compared today’s FDV with the opening valuation:

84.7% (100/118) are below their TGE valuation

This means about 4 out of 5 launches are trading below their opening valuation

The median token is down 71% in FDV (-67% in market cap) from launch

Only 15% are in the green compared to TGE

Among them, the top-performing tokens are:

$ASTER : +744%

$ESPORTS : +537%

$H : +323%