Sisyphus
Sisyphus
SUI-0.95%
W-2.90%
ZK-3.17%
SCR-3.77%
TIA-3.88%
ZRO-4.90%
STRK-4.04%
OP-1.28%
APE-0.52%
EIGEN-3.61%
7 deals that incinerated $1 billion of LP money: ZRO: $120m at $3bn FDV in '22, now $2bn (-33%) TIA: $100m at $3bn FDV in '24, now $1.6bn (-45%) ZK: $200m at $2.4bn FDV in '22, now $1bn (-60%) SCR: $50m at $1.8bn FDV in '23, now $250m (-75%) W: $225m at $2.5bn FDV in '23, now $650m (-75%) STRK: $100m at $8bn FDV in '22, now $1bn (-90%) MATIC: $450m at $20bn FDV in '22, now $2bn (-90%) Hyperliquid
Sisyphus
Sisyphus
Memecoins are making people realize nearly all of the “tech” in crypto is a smokescreen designed to sell you a token that does nothing marked up 100x from the private round This is why VC’s don’t like memecoins - it threatens their core business, selling vapor
Some honorable mentions: -APE: Yuga raised $450m in '2022 at $4bn and the coin trades at $600m. But don't know how the token and equity interact here -EIGEN: Don't know the exact price paid, but a16z is probably down on the $100m check it wrote in '24 -FTX: Raised $400m at $8bn in '23 and it went to zero, but already very well covered -OpenSea: Raised $300m at $13bn in '22 and did not launch a token, just went straight to zero basically -OP: Raised $65m at $3.2bn in '22 and then a16z bought $90m more in '24 which they are also underwater on but I don't know by how much -ZORA: Raised $50bn at $600m (or $1.2bn FDV?) in '22 and trades at $80m FDV. Biggest percentage loss that isn't a zero Hyperliquid
On the other hand, the investors in Aptos and Sui are still up several billion dollars. I think Sui in particular is saving a lot of fund DPIs from looking really bad Hyperliquid
Show original
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.