‘Fair Launch’ tokens outshine the average coin’s performance
So-called ‘Fair Launch’ tokens are outperforming most projects released via centralized token distribution events, according to crypto market data aggregator Messari,
Messari defines Fair Launch tokens as having a publicly announced launch without any form of pre-mine. These include older top 10 crypto assets Bitcoin and Litecoin, newer DeFi projects such as Yearn.Finance and SushiSwap, and veteran 2013 altcoin Peercoin.
We have pre-set screeners here –> https://t.co/17N2KGDPRF pic.twitter.com/F4StV12N5Q
— Mira Christanto (@asiahodl) February 16, 2021
Fair Launch tokens appear to be outperforming the broader crypto markets by more than double over the past three months.
The top 1,026 crypto markets gained an average of 9.56% this past week, compared to the 31.44% average gain seen by Fair Launch projects over the same period.
Over the past 30 days, Fair Launch tokens are up 145.33% compared to the collective crypto average of 49.50%, while the last 90 days have seen Fair Launch projects gain 296.46% compared to 112.41%.
Fair Launch tokens are also outperforming the averages of Ethereum-based assets, which gained 1.90%, 43.82%, and 248.45% over the past seven, 30, and 90 days respectively.
The data shows that all but one of the top 20 Fair Launch tokens have posted gains this week, with only DOGE sliding by 20%.
However, DOGE is the top-performing Fair Launch asset of both the past 30 and 90 days, gaining 515% and 1,815% respectively after being pumped by the notorious subreddit r/Wallstreetbets at the end of January.
After a vicious dump, DOGE again rallied after its hypothetical CEO, Tesla chief executive Elon Musk, tweeted about the meme-coin in early February.
The performance of Fair Launch tokens has also been bolstered by Bitcoin’s meteoric run into all-time highs since breaking above $20,000 for the first time in December. The consolidation of the Yearn Finance ecosystem has also contributed to the strong performances from Yearn and SushiSwap recently.
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