It is well known that when the market conditions are not favorable, project parties will technically choose to postpone the issuance of tokens, waiting for a better market situation before launching the tokens. This idea may be beneficial for the project parties and early investors, but it may not be a good thing for secondary market investors.
Prominent KOL Cobie shared on X today that the token generation events (TGE) of Ethereum were at the bottom of BTCUSD, SOL’s TGE was at the low point after the 2020 COVID crash, and OP’s TGE was at the micro bottom of 3AC liquidation. By using these examples, Cobie expresses that protocols should launch their tokens in the worst market conditions. Launching tokens when the market conditions are favorable will only result in a higher fully diluted valuation (FDV), which means that your (secondary market investor) chart will never go up.
In response to this, Tangent co-founder Jason Choi also agrees and states:
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