Investors Are Shifting from Token Launches to IPOs

DWF Labs Research: 80% Failure in Token Launches

According to DWF Labs research, investor capital is shifting from tokens to publicly traded crypto companies in an environment where new token launches are failing. The analysis, based on Memento Research data, shows that more than 80% of hundreds of token launches on major centralized and decentralized exchanges fell below their token generation event (TGE) price; typical drops ranged between 50-70%, occurring approximately 90 days after listing. This reflects a general trend observed in tokens like ALT detailed analysis.

Source: DWF Ventures

Record IPOs and M&As in Public Crypto Companies

In contrast, crypto-related initial public offerings (IPOs) reached $14.6 billion in 2025, sharply rising from the previous year, while mergers and acquisitions (M&A) activity hit $42.5 billion, the highest level in five years. Publicly traded shares in companies like Circle, Gemini, and eToro traded at 7-40x sales multiples, while tokens ranged between 2-16x.

Expert Opinions: Airdrop and Early Investor Lockup Pressure

DWF Labs managing partner Andrei Grachev stated that these drops stem from selling pressure, with airdrops and early investor lockups (vesting) being the main causes. Grachev emphasized that this shift is a rotation, not a capital withdrawal. WeFi CEO Maksym Sakharov confirmed that institutional investors prefer regulated markets, reporting standards, and accessibility.

ALT Token Example: Current Technical Analysis and Support Levels

To illustrate the general failure of token launches, let's look at ALT futures data (as of February 23, 2026): Price $0.01, 24h change -6.48%, RSI 31.02 (Oversold), downtrend and bearish Supertrend. EMA 20: $0.0086.

• Supports: S1 $0.0070 (⭐ Strong, -4.50%), S2 $0.0065 (⭐ Strong, -11.32%)
• Resistances: R1 $0.0076 (⭐ Strong, +3.68%), R2 $0.0137 (⭐ Strong, +86.90%)

These data confirm the short-term pressure on tokens; investors should monitor tools like ALT spot analysis.