Even in the case of a continuous market decline, major venture capital firms can still achieve tens or even hundreds of times the floating returns on these tokens. hitesh.eth, co-founder of DYθR, has specially marked the unlocking time of these tokens’ capital shares in order to monitor potential unlocking pressure in the market.
(Background: Is the rise of VC tokens on exchanges the cause of the market downturn? Data reveals the truth.)
Tokens known as “VC tokens” with the typical characteristics of “high FDV and low circulation” have become the most dangerous label in the secondary market. On June 24th, hitesh.eth, co-founder of the data analysis platform DYθR, posted a set of data on X, listing the top ten typical “VC tokens” currently on the market.
The data shows that even in the case of a continuous market decline, major venture capital firms still have tens or even hundreds of times the floating profit on these tokens. hitesh.eth has specially marked the unlocking time of these tokens’ capital shares to monitor potential unlocking pressure in the market.
The image below is a secondary chart created by Odaily Star Daily based on data compiled by DYθR on Dune, aiming to help readers understand the real-time floating profits and unlocking status of these tokens more intuitively.
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A few points need to be emphasized:
The latest update of DYθR’s data was yesterday afternoon, coinciding with a major market decline. The data has a certain lag, but it does not affect the overall results.
Considering that individual projects have different valuations in different financing rounds (cheaper in earlier rounds), DYθR uses the algorithm of “current FDV/average valuation of different financing rounds” to calculate the multiple of VC’s floating profit. Therefore, the final multiple may have some discrepancies with the multiples of different rounds, but it can basically represent the overall floating profit situation for VC in that project.
DYθR has a total of 28 projects in its statistics (refer to Dune), but for the sake of length and project popularity, the following text will only cover the top 10 projects with the highest multiple of floating profit. Interested readers can refer to DYθR for more information.
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