There have been many highly anticipated new projects issuing coins so far this year, but in this era of high valuations, most projects reached the peak of their currency prices soon after opening, and then all the way down. Although there is a saying in the cryptocurrency market that "speculate on the new, not the old", even in the bull market, these tokens do not seem to have enough power to take over.
According to information shared by cryptocurrency researcher Ignas, several well-known projects issued so far this year have experienced an average decline of 63.6% from their historical highs, and the average circulation rate of these tokens is only 13.6%, indicating that there are still many tokens. The locked position has not yet been unlocked, which will cause further downward pressure in the future, making it more difficult to return to historical highs.
