Even in the continued market downturn, major venture capital firms are still able to achieve returns several tens to even nearly a hundred times on these tokens. Co-founder of DYθR, hitesh.eth, specifically marked the unlock times of these tokens’ capital shares to monitor potential unlock dumping in the market.
(Previous context:
Did the exchanges going crazy over VC tokens cause the market to fall? Data reveals the truth
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(Background:
Is Binance going against its original intentions by going crazy over VC tokens? Why 1: If we don’t, market funds will flow into meme coins, SHIB, etc.
)
Tokens known as “VC tokens,” characterized by “high FDV, low circulation,” have become the most risky label in the secondary market. On June 24, data analytics platform DYθR’s co-founder hitesh.eth posted a set of data on X, listing the current market’s top ten typical “VC tokens”.
The data shows that even in the face of a sustained market downtrend, major VCs still see returns several tens to nearly a hundred times on these tokens. hitesh.eth specifically marked the unlock times of these tokens’ capital shares to monitor potential unlock pressures in the market.
The following image is a secondary chart drawn by Odaily Star Daily based on data compiled by DYθR on Dune, aimed at helping readers more intuitively understand the real-time gains and unlock status of these tokens.
It is important to note a few points:
DYθR’s data was last updated yesterday afternoon, coinciding with a significant market decline. While the data has some lag, it does not affect the overall results.
Considering that individual projects will have different valuations at different financing rounds (earlier stages being cheaper), DYθR’s algorithm for calculating VC return ratios adopts “current FDV/mean valuation across different funding rounds”. Therefore, the resulting ratio will actually differ slightly from ratios at different stages, but it can generally represent the overall return situation for VCs on that project.
DYθR has collected data on a total of 28 projects (refer to Dune). Due to considerations of length and project popularity, the following text will only cover the top 10 projects in terms of return ratios. Interested readers can consult DYθR for more information.
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