85% of 2025 New Crypto Tokens Bleed: Why the Airdrop Era Ended

Eight out of ten new crypto tokens launched in 2025 are underwater. Your 'next big thing' might actually be a falling knife. According to data from Memento Research, the dream of instant riches from new listings has turned into a nightmare for most retail investors.

2025 New Crypto Tokens Performance Analysis

The year 2025 was a reality check for the industry. Out of 118 major token generation events, 85% are currently trading below their initial valuations. The median token has plummeted more than 70%. This catastrophic performance stands in stark contrast to 2021, when tokens like AVAX and FTM minted millionaires overnight.

The Structural Failure of Misaligned Incentives

The root cause is a fundamental disconnect between token holders and product users. Large-scale airdrops and exchange-led distribution flooded the market with traders who had no intention of using the underlying technology. For instance, Plasma XPL crashed from a peak of $2.00 to under $0.20. Even high-profile projects like Monad have seen their value erode by 40% shortly after launch.