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![ahboyash Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::986054149920866305.png) Ash [@ahboyash](/creator/twitter/ahboyash) on x 28.6K followers
Created: 2025-07-01 13:10:00 UTC

Halfway through 2025 and XX VC-backed tokens have been listed:
•⁠ XX launched at $50m-$1b FDV (80% of the projects)
•⁠ X are below $50m
•⁠ X are above $1b (@KaitoAI, @StoryProtocol and @WalrusProtocol)

Crazy if you consider
• VCs usually invest at seed stage, typically at a valuation of $20-$100m FDV
• They are locked for ~3 years upon TGE, by the time the cliff + vesting period is over, the val may tank further
• Some of the projects are already trading below their last fundraise round (i.e. investors are underwater)

![](https://pbs.twimg.com/media/Guwv36IWcAAjgxF.jpg)

XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1940035158452969772/c:line.svg)

**Related Topics**
[100m](/topic/100m)
[val](/topic/val)
[$100m](/topic/$100m)
[investment](/topic/investment)
[vcs](/topic/vcs)
[walrusprotocol](/topic/walrusprotocol)
[kaitoai](/topic/kaitoai)
[$1b](/topic/$1b)

[Post Link](https://x.com/ahboyash/status/1940035158452969772)