Syndicate (SYND)

Let's look at one of the reasons.

According to Coingecko, 11.9 million projects launched in 2025 are declared dead.

99% of projects that performed a Token Generation Event (TGE) in the same year experienced token price drops of over 80% (according to TedPillows).

Entering 2026, outside of meme projects, more than 25 projects have already announced they will cease operations.

The question: is the cause a lack of funds? Certainly not!

For example, I took a sample of 30 projects launched in 2025. Fundraising data shows:
→ Minimum: $1 million
→ Median: $27 million
→ Average: $47.3 million
→ Highest: $359 million

This means most of these projects have strong funding.

So, the issue is not on the capital side.

However, the majority of tokens still underperform after launch, with price and FDV declines ranging from 80% to 95%.

The root problem is more structural.

One of them is the combination of a high fully diluted valuation (FDV) at launch and a low circulating supply.

If we