The $TROVE project's TGE plummeted in the first hour—an astonishing 96% drop. The $11.94 million funding stage and an initial valuation of $20 million led many to believe in the potential of this Perp DEX project within the Hyperliquid ecosystem. However, the reality was quite the opposite. Just one hour after launch, the project's total valuation was cut in half to less than $700,000. From twenty million to seven hundred thousand, the market's rapid reversal in evaluation highlights the significant gap between the expectations behind this funding and the actual outcome.