New Tokens To Watch 2/12/2024

Another weekly issue on the best tokens that have launched in the past 2 weeks, based on smart money interest and upside potential. The past week has brought life back into the ETH ecosystem with the rise of the ERC404 wave, which was set off by PANDORA running to a $300mm FDV. I’ve been covering the ERC404 beta plays, smart money movements and other new non ERC404 projects of interest in my daily newsletter, which you should check out if you are looking for a quick daily summary of the new shiny and upcoming coins.

As an example, at ~10pm EST on 2/8, I published a note on why I think the ERC404 ecosystem was nearing a top, which turned out to be almost exactly the pico top for PANDORA (and most of the beta plays fell much further).

Reminder of our greatest hits so far:
BSSB $8mm -> $100mm (12.5x)
HYPR $2.7mm -> $25mm ATH (~9x)
WEBAI $240k -> $4.4mm ATH (18x)
PEAS - $5.48mm -> $105mm ATH (19x)

With the rise of the ERC404 narrative, it has pulled liquidity away from the rest of the ETH coin ecosystem. With that said, last issue’s tokens held up decently well despite the liquidity pull (and are probably worth revisiting at these lower/flat levels).

CAD $5.2mm → $4.3mm
BAI - $16mm market cap → $16mm
LYVE - $6.7mm market cap → $3mm
VEC - $295mm FDV → $226mm FDV
ODGN - $2.7mm market cap → $1.3mm
INS - $0.43 → $0.43 (flat)
GEM / OPAL - $0.54 (no token launched)

Now let’s examine some of the most interesting tokens to watch that have launched in the past 2 weeks. I’ll try to include a mix of ERC404s, and regular ERCs, given the beta plays in 404 land can go to zero quite quickly.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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