Expectations give a start, but only the token with a real function survives.

The market often perceives the appearance of a token as a sign of the project's value. But the mere fact of releasing an asset does not say anything about its necessity. A token is a tool, and its role is defined not by promises but by how it is integrated into the economy of the system.
In most cases, tokens are created for the distribution of access, redistribution of risks, or funding development. However, liquidity in them does not appear automatically. It arises only when there is a stable reason for external demand. If a token is needed only within a limited contour, its turnover remains closed and depends on the influx of new participants.