Crypto
Only Extended token topped $150 million FDV on launch day
StandX, Puffpaw, Metamask and Opensea all stayed below $500 million FDV, while Extended reached just over $150 million.
On Friday, several newly launched crypto tokens reported their first-day fully diluted valuations. Only the token named Extended recorded a valuation above $150 million. The other four tokens all remained under $500 million, falling short of the modest thresholds that had been discussed.
Its fully diluted valuation was reported later on Friday, confirming the figure was under that level.
Puffpaw also failed to break the $300 million threshold on its first day. Its valuation was measured on Friday and found to be beneath that figure. Metamask, another token released the same week, did not exceed $700 million. Both tokens saw trading volumes that did not lift their valuations to the anticipated levels.
Opensea's launch day valuation was recorded below $500 million. The figure was confirmed on Friday, showing the token stayed under that benchmark.
Across the five tokens, only Extended achieved a valuation that crossed a six-figure million-dollar threshold. No token reached a fully diluted valuation of $500 million or more on its first day.
Analysis
The modest valuations suggest that investor appetite for new crypto projects was restrained, even when the launches generated significant attention. Without large first-day caps, issuers may need to adjust expectations for fundraising and liquidity provision.
The results for Puffpaw, Metamask and Opensea show that brand recognition alone did not secure high valuations.
Overall, the launch day data create an environment where future token performance remains uncertain. Stakeholders will likely monitor subsequent trading activity to see whether any of the tokens can build momentum after the initial day.
What this was built from
Each claim above traces to a market below, at the price it was trading when this edition went to press.