Inventory of the top ten new coins with the highest unrealized gains for VC currently
The so-called "VC tokens," characterized by "high FDV and low circulation," have become the most dangerous label in the secondary market.Author: Azuma, Odaily Planet Daily
The so-called "VC tokens," characterized by "high FDV and low circulation," have become the most dangerous label in the secondary market.
On June 24, hitesh.eth, co-founder of the data analysis platform DYθR, posted a set of data on X, reviewing the current top ten "VC tokens" in the market. The data shows that even amidst a continuous market decline, major VCs still have tens to nearly a hundred times unrealized gains on their investments in these tokens. Hitesh.eth specifically noted the unlocking times for the shares of these tokens to help the market monitor potential selling pressure from unlocks.
The following chart is a secondary illustration created by Odaily based on DYθR's data on Dune, aimed at helping readers more intuitively understand the real-time unrealized gains and unlocking status of these tokens.
A few points to emphasize:
First, the latest update of DYθR's data was yesterday afternoon, coinciding with a significant market drop. This data has a certain lag, but it does not affect the overall results;
Second, considering that individual projects may have different valuations in different financing rounds (the earlier, the cheaper), DYθR calculates the VC unrealized gain multiplier using the formula "current FDV / average valuation of different financing rounds." Therefore, the final multiplier numbers may differ somewhat from the multipliers of different rounds, but they generally represent the overall unrealized gain situation for VCs in that project;
Third, DYθR has compiled a total of 28 projects (see Dune). For the sake of brevity and project popularity, the following text will only cover the top 10 projects with the highest unrealized gain multipliers. Interested readers can refer to DYθR for more content.
