🚨 2025 Tokens, VC Money & Harsh Market Reality

The 2025 token launches backed by venture capital are facing a brutal reality check.

Many of them are now trading far below their initial VC valuations, exposing a massive gap between private funding hype and public market demand.

🧠 VC Valuations vs. Real Liquidity

Take Fuel Network as a prime example:

VCs priced the project at $1B, yet the current market cap sits around $11M. That’s not a dip — that’s a valuation collapse.

This trend isn’t isolated. It reflects a broader market shift where:

Private rounds were priced for peak optimism

Public markets are pricing actual demand and liquidity

Unlocks + low usage = relentless sell pressure

Cheap relative to VC entry ≠ undervalued. The market doesn’t care about pitch decks.

🐋 Whale Moves: Smart Money or Patience Game?

🔻 Arthur Hayes

Hayes is reducing ETH exposure and rotating into altcoins like ENA, PENDLE, and ETHFI.

But here’s the twist:

ETH sold: $5.5M

Alts bought: ~$600K

That’s not aggressive risk-on behavior. That looks like probing the market while waiting for deeper discounts 😃

🔺 Tom Lee

On the other side, Tom Lee just added 67,886 ETH (~$201M).

The confidence here is loud. Either he sees a structural bottom forming — or he knows something the market hasn’t priced in yet 🤑

⚠️ Ethena’s USDe: Pressure Continues

Since October, USDe market cap is down over 50%.

Demand keeps fading, but at least we’re not watching another LUNA-style implosion.

Not bullish. Not dead. Just… surviving 👍

📈 Top Gainers (24h)

pippin — $0.4711 (+24.4%)

Canton — $0.08964 (+5.14%)

Sky — $0.06571 (+3.23%)

🧩 Final Take

2025 is teaching the same old lesson in a louder voice:

VC money doesn’t guarantee market value.

Price follows liquidity, usage, and patience — not headlines.

Stay sharp. Discounts are earned, not given 😎

#MerryBinance