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New crypto token launches in 2025 have largely failed, with 84.7% trading below their Token Generation Event (TGE) prices. The median token has crashed 71% in fully diluted valuation since launch, with market cap down 67%. Only 15% of 2025 token launches trade above their TGE valuations, with high-profile cryptos such as Syndicate, Animecoin, and Berachain suffering declines of 93.64%, 93.59%, and 93.17%, respectively.

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