[DWF Labs: Over 80% of Tokens Fall Below Issuance Price Within 90 Days, Capital Shifts to Crypto Equity and M&A] DWF Labs' latest report reveals that over 80% of tokens drop below their issuance price within 90 days after the Token Generation Event (TGE), primarily due to high valuations and declining liquidity undermining investor confidence, compounded by factors such as airdrops and early unlock sell-offs. In contrast, crypto-related companies have shown strong performance through IPOs and M&A activities, with crypto IPO financing projected to grow to $14.6 billion by 2025, and total M&A transaction value reaching $42.5 billion, marking a five-year high. The report highlights that stocks enjoy a higher price-to-sales ratio premium compared to tokens (7-40x versus 2-16x), driven by factors such as institutional access, potential index inclusion, and diversified investment strategies. By 2026, more crypto companies like Kraken and Consensys are planning to go public, signaling accelerated integration between the crypto industry and traditional finance. DWF Labs believes that the future of the digital asset sector will focus more on product development based on fundamentals and sustainable revenue, driving the industry toward long-term value creation. Related reading: Tokens vs. Stocks: The Valuation Gap