Approximately 85% of cryptocurrency tokens launched in 2025 are currently trading at prices lower than their listing levels. This was noted by the well-known crypto researcher Edgy, who specializes in analyzing decentralized finance markets and key trends in the crypto sector.
This is reported by Business • Media
Poor performance of tokens and venture deals in 2025
According to Edgy, the vast majority of new tokens in 2025 are showing negative dynamics. This is especially evident in projects that received support from venture funds—such deals typically either barely break even or result in losses for investors. The researcher emphasizes that just a few years ago, participation from top venture funds in crypto projects was considered a strong signal for the market, but today this factor no longer holds the same influence.
“About 85% of tokens launched in 2025 are trading below their listing levels,” said Edgy.
Edgy cited analytics from Galaxy Research, which reflects the changing trends in the field of crypto venture investments. The chart shows that the role of venture funds in increasing demand and token prices has diminished, and the market is becoming less sensitive to their participation.
Decline in venture fund activity after the peak in 2022
Galaxy Research estimates that in the second quarter of 2022, cryptocurrency venture funds raised about $17 billion and launched over 80 new funds. During this period, LP investors were actively investing in various crypto projects. However, since then, the situation has changed: the ROI of venture funds is declining, the number of new funds has dropped to a five-year low, and capital raised in the previous quarter amounted to only 12% of the figures from the second quarter of 2022.
Edgy notes that the total investment volume in the cryptocurrency sector for 2023–2025 is approximately equal to the amount that funds were able to raise in just 2022. He believes that the traditional model of launching tokens and selling them to retail investors is gradually losing relevance. The diminishing influence of venture capital could positively impact the industry, as it provides more opportunities for projects with real utility and fair launch conditions, without significant insider sales.
The expert also suggests that in the future, there will be fewer new blockchains entering the market, and teams will increasingly focus on product development rather than raising funding in new rounds.