This year, 84.7% of the 118 TGE matches saw a break point rate, with a median break point rate of 71%.

Ash Liew, founder of Memento Research and head of investment at Signum Capital, published an article on X stating that the firm tracked 118 token generation events (TGEs) in 2025 and compared their current FDV with their valuation at launch. The results showed that 84.7% (100/118) of the projects currently have a lower FDV than their TGE valuation, meaning that approximately 4 out of 5 projects will experience a price drop after launch; the median price drop was 71% (67% in MC terms) compared to the initial offering valuation; only 15% of the tokens are still showing an increase compared to their TGE.