2025-12-18 11:16:59

Recently, several new listing projects on Kaito Kickstarter have performed poorly after TGE, with many experiencing significant drops below their initial prices.

Play AI participated in the IPO with a valuation of $50 million, but its FDV has dropped to only $2.1 million; Hana Network was initially funded at a $40 million valuation, now its FDV is only $10.5 million; Novastro, which was valued at $50 million, has plummeted to an FDV of just $1.05 million, a staggering decline; Bitdealer, with a valuation of $35 million, now has an FDV of only $2.8 million.

From the data, these projects have experienced over 90% shrinkage from their high valuations in the primary market to their actual FDV in the secondary market. This reflects a market re-evaluation of project quality and a more cautious attitude among investors towards new listing projects. The frequent occurrence of TGE breakouts serves as a reminder for participants to assess project fundamentals more rationally rather than blindly follow trends.

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SocialAnxietyStaker

· 23m ago

Another pile of broken and trash, Kaito's IPO play really sucks... --- 90%缩水? Laughs, is this still called investing? Purely cutting leeks --- Talking about rationally evaluating fundamentals, but at the end of the day, it's just information asymmetry --- Novastro dropped from 50 million to 1.05 million? How much can they cut? Haha --- Talking about getting rich quick from IPOs every day, but it goes to zero as soon as it launches... I mean, how can you still believe these? --- The primary market is hyped up like crazy, but the secondary market is just slap in the face --- My friend bought the Play AI project, and now he's probably crying in the corner --- This wave of Kaito is really good, professionally cutting new investors --- Cautious attitude? Should have said it early, what's the use of saying it now --- I just want to know who still dares to take these positions?

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MevSandwich

· 12-18 21:41

Haha, this is the result of going public. The inflated valuations in the primary market can collapse suddenly, and these project teams really dare to ask for high prices.

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GasFeeCryBaby

· 12-18 11:43

Coming again? Kaito's recent IPO performance really tanked; a 90% drop isn't even enough to describe it. It's heading straight to zero.

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GasBankrupter

· 12-18 11:34

90% shrinkage? That's outrageous. These VC valuations are almost a joke. It's really time to learn how to see through the surface.

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Frontrunner

· 12-18 11:33

Wow, Play AI directly dropped from a $50 million valuation to $2.1 million. How tragic is that... A 90% drop is really outrageous. It feels like Kaito's new project is all a scam.

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Degentleman

· 12-18 11:31

Damn, what kind of crazy valuation is this? 90% shrinkage... Truly unbelievable.

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ParallelChainMaxi

· 12-18 11:23

Hmm... Novastro directly slashed 99%, which is outrageous. It feels like Kaito's new token launch is a bit unreasonable.

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