Data: So far this year, 84.7% of the 118 TGE (Teaching Excellence) events have broken their issue price, with only 15% showing an upward trend.
TL;DR
A study of 118 token generation events in 2025 reveals that 84.7% have current valuations below their launch price, with a median drop of 71%, while only 15% show gains.
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PANews reported on December 20th that 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 have a lower current FDV than their TGE valuation, meaning that approximately 4 out of 5 projects will experience a price drop after launch; the median price drop is 71% lower than the launch valuation (67% lower in MC terms); only 15% of the tokens are still showing an increase compared to their TGE.