So-called “fair launch” tokens are outperforming most projects launched through centralized token distribution events, according to cryptocurrency market data aggregator Messari.
Messari defines launch tokens just as those that have a publicly announced launch without any prior mine. Among them are the 10 oldest crypto assets, Bitcoin and Litecoin, the new DeFi projects, such as Yearn.Finance and SushiSwap, and the veteran altcoin of 2013, Peercoin.
We have pre-set examiners here -> https://t.co/17N2KGDPRF pic.twitter.com/F4StV12N5Q
– Mira Christanto (@asiahodl) February 16, 2021
Fair launch tokens appear to be outpacing the broader cryptocurrency markets by more than double over the past three months.
The top 1,026 cryptocurrency markets gained an average of 9.56% this past week, compared to the average gain of 31.44% seen by launch projects just over the same period.
In the past 30 days, fair launch tokens are up 145.33% compared to the cryptocurrency collective average of 49.50%, while in the last 90 days the fair launch projects have gained 296.46% compared to 112.41%.
Fair launch tokens are also outperforming averages for Ethereum-based assets, who have gained 1.90%, 43.82% and 248.45% in the last seven, 30 and 90 days respectively.
Data shows that all but one of the top 20 fair launch tokens have posted profits this week, and only DOGE is down 20%.
Nevertheless, DOGE is the best performing fair launch asset of the last 30 and 90 days, gaining 515% and 1.815% respectively after being pumped up by the notorious r / Wallstreetbets subreddit in late January.
After a vicious fall DOGE rose again after its hypothetical CEO, Tesla CEO Elon Musk, tweeted about the coin in early February.
The performance of fair launch tokens has also been bolstered by Bitcoin’s meteoric rise to all-time highs since it topped $ 20,000 for the first time in December. The consolidation of the Yearn Finance ecosystem has also contributed to the strong performance of Yearn and SushiSwap recently.
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