ChainCatcher news, Dragonfly managing partner Haseeb posted on platform X that many founders attempt to launch tokens during a bull market, but these tokens ultimately still need to go through a bear market. Haseeb is skeptical about the impact of market cycles on the long-term value of tokens, believing this suggests that certain tokens systematically perform poorly due to the market cycle at the time of issuance, which is unlikely.Haseeb further stated that while tokens issued during a bull market may have more funds for growth, market competition is relative. If the market drops by 50%, the native token ecosystem fund will also decline by 50%, with market share remaining relatively unchanged. Haseeb emphasized that the timing of fundraising activities is indeed important, but he is discussing token generation events (TGE), which are more akin to direct listings rather than fundraising activities.