Some of the market caps on the most hyped new launches are crazy. In the past week: NIL: $93m GUN: $34m Obviously conditions are bad, and valuations reflect that, but I think new launches are further suppressed by increased sell pressure (most early investors, KOLs etc. are down bad and want to raise cash - makes sense psychologically). In Q4, you could get away with holding onto an airdrop/unlock. But now it's max jeet season. People value liquidity more now than they did then (myself included). Probably creates some great long-term opportunities if you're willing to be patient. I might start building a liquid "new launch" portfolio, where I just set limit orders on the new launches I like and check it later in the year.