## The Exposure of the 2025 New Coin Issuance Disaster: Token Economy Design Flaws as the Culprit
**Market Data Pierces the Bubble**
According to the latest statistics from Memento Research, the new coin issuance market has experienced a "glacial period" this year. Among the 118 tracked token launches, over a quarter of investors are suffering from value depreciation — specifically, 84.7% of new coins have fallen below their initial valuation after listing. At the median level, the fully diluted market cap of these projects has dropped by 71% since issuance, with a market cap shrinkage of 67%.
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