On May 20, Dragonfly Managing Partner Haseeb published an article on the social platform "Why are all these low float/high FDV coins down bad?", that is, about the recent low float/high FDV tokens listed on Binance generally underperforming, triggering discussions on whether the market structure is broken, whether VCs are too greedy, and whether retail investors are being targeted.
Haseeb believes that the current market decline is mainly due to the market's reduced risk appetite for new tokens, rather than the above reasons. The theories of VC, retail investors turning to MEME trading, and insufficient liquidity do not hold true on the data. Haseeb advises market participants to better adjust their expectations and strategies, believing that the free market will self-regulate price errors.
Haseeb attributed the decline in overall sentiment caused by geopolitical tensions in the Middle East in mid-April to the decline in token prices. The market has a lower risk appetite for new tokens, which are classified as high-risk new tokens and sold off.
Haseeb: The general underperformance of low liquidity/high FDV tokens is a process of market self-correction
2024-05-20 09:28:58
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