85% of new cryptocurrencies from 2025 trade below initial value, report finds

A report from crypto research firm Memento Research found that 85% of new cryptocurrencies launched last year are trading below their initial valuations, CoinDesk reports. The firm, which tracked 118 Token Generation Events (TGEs) in 2025, noted that the median token price has fallen by more than 70% from its starting price. The report contrasted this with the pre-2021 bull market, where new altcoins often surged on hype and risk appetite. Memento Research attributed last year's poor performance to several factors, including a lack of genuine user adoption, unclear utility, an uncertain regulatory environment, and imbalanced distribution structures. The firm concluded that marketing-driven hype will become obsolete, with surviving tokens being valued based on disciplined strategies, clear incentive designs, and actual usage.