#美联储回购协议计划 Can the new coin market still be played in 2025? 80% of 118 projects have fallen below the listing price.

The new coin market is interesting this year. According to the latest statistics, among the 118 new coins that will be launched in 2025, more than 80% of the projects have returned to a valuation below the issuance price. In other words, if you randomly pick 5 new coins to invest in, there is a high probability that 4 of them are in a loss state. What about those star projects that once received sky-high financing and were sought after by thousands? Many of them have fallen by over 90%. On paper, hundreds of billions in market value have just evaporated.

Sounds desperate? But this is precisely the market making a healthy adjustment.

**What is the other side of the bubble burst?**

The old logic of "telling stories, making grand promises, and becoming a god overnight" has completely failed. In the past, with ample funds, one could go all in just by listening to concepts, but now it's different—every penny must be spent wisely. Project teams can no longer rely solely on packaging and marketing; they must truly have technological accumulation, address real needs, and possess a solid team background. Projects that have no actual products and only hype are naturally eliminated mercilessly. This wave of price drops is a "detox" from the speculative frenzy of the past two to three years.

**How to survive in this market?**

1. Don't believe in those "must pump" and "top-tier" nonsense anymore. Learn to do your homework - is there any real innovation in the project's technical plan? Are the team members' backgrounds solid? Is the problem to be solved a false demand or a real pain point? If you don't understand something, it's better to miss out than to force your way in.

2. Pay attention to outstanding projects that are overlooked by the market. A close observation will reveal that those with good price increases are often new projects that appeared in the second half of the year, and their initial valuations are generally not high. This indicates that opportunities are not dead; the market currently favors those low-key projects that let their strength speak for themselves. Projects with reasonable valuations, stable progress, and not relying on public opinion to create momentum are more likely to outperform.

3. Change the betting mindset. Significantly reduce the proportion of funds previously used for "taking chances" and shift towards allocating those to core assets that have been tested by the market and have a sound ecosystem. The essence of investing is not to gamble but to make choices that can withstand scrutiny with money that you can truly afford to lose.

**Conclusion**

The market has become stricter, which is actually a good signal. It is forcing out pure speculators and leaving the future to those willing to do in-depth research. The evolution from beginners to true players starts with this lesson.