Several newly launched tokens have seen sharp price declines, raising questions about the effectiveness of token generation events (TGEs) and the upcoming airdrop season. CAMP, the native token of an AI-focused blockchain, has plunged 88% since its launch last month. Similarly, DoubleZero's 2Z and Anoma's XAN have both dropped 60% in a matter of days. XPL, another anticipated project, fell below its TGE price amid allegations of a token sale by the founding team, which were denied. The poor performance of these tokens is attributed to over-hyped pre-launch expectations and unfavorable tokenomics, including large token sales by market makers. As airdrops from MetaMask, OpenSea, and Monad approach, there are concerns that they may also face challenges in generating strong demand if current trends persist.
Newly Launched Tokens Plummet Amid Airdrop Season Concerns
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