- dumping price on week 1 is almost fatal: only 9.4% of tokens that fell early finished the year positive

- start price matters: 75% of tokens launching under $100m fdv were up after a month vs 22% above $500m

- 80% of airdrop receivers dumped on day 1...

- while pre-sale participants show a ~65% retention rate on day 1 (but continue dumping if price increases)

- favor tokens with liquidity concentrated on one chain: splitting $1m tvl across three chains weakens depth (and is bad for price)

- MMs sell ~50% of tokens to bootstrap quote assets under a token loan agreement

- Pre-market perps are a "source of significant downward pressure."

- 90% of token unlocks were followed by price drops. "Team unlocks hit hardest, averaging a 25% decline over 30 days."

This gap exists because team members sell independently, without coordination, using taker orders that increase price impact.

Good read. Highly recommended:

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