Recent token launches have been having a very tough time. Tokens launched in the past few months like BERA, ANIME, USUAL and PENGU are all down significantly from TGE. This feels similar to summer 2024 when all new token launches went down in a straight line. Similar to back then, there currently isn't enough demand to absorb the supply of all these new tokens entering the market. And it appears more tokens are gonna enter the market soon with TGEs like LAYER from @solayer_labs today, IP from @StoryProtocol later this week and AVL from @avalonfinance_ soon as well. I'd expect that a lot of projects will be trying to get their tokens live in Q1. @layerggofficial shared a post the other day mentioning potential TGEs in Q1/Q2 and the list is LONG (Elixir, Karak Symbiotic, Linea, Corn and many more. Will be interesting to see how the market reacts to this.