Only 12% of 2025's Token Sales Will Still Remain Profitable—A Market Reality Check

A recent market analysis reveals a sobering trend for crypto investors: barely one-eighth of the 533 public token sales that occurred throughout 2025 will still manage to stay above their original issue prices. Out of this substantial volume, merely 63 projects managed to preserve profitability for their early investors, painting a stark picture of a market challenged by investor fatigue and diluted attention.

The 12% Success Rate: Understanding the Shift

The data paints a challenging picture for the token sale landscape. While 2025 saw considerable excitement in certain quarters—with mega-rounds like PUMP’s $600 million raise capturing headlines and achieving early gains of 2.19x at its peak—the narrative shifted dramatically once market realities set in. Today, PUMP trades at approximately 0.48x its IDO price, now priced at $0.00, reflecting the broader market downturn. Similar patterns emerge with MON, trading at 0.93x ($0.02), and XPL at 0.47x ($0.12), suggesting that even headline-grabbing projects struggle to sustain momentum.

However, not all projects have suffered equally. In the early stages, roughly 58% of token sales with balanced allocation structures achieved impressive short-term gains between 3x and 6x, demonstrating that opportunity still existed for those who timed their entry correctly. Yet these returns proved fleeting, as holding periods shortened and profit-taking accelerated.

The Outlier: MYX’s Exceptional Performance

While most projects disappointed, MYX Finance emerged as the standout success story of 2025’s token sales. The project achieved an extraordinary return of 2,103x at its all-time high, with current trading prices still reflecting approximately 385x gains from the original sale price. At $5.60 per token (near its $19.90 ATH), MYX stands in stark contrast to its peers, suggesting that project fundamentals, tokenomics, and genuine utility still matter in differentiating winners from losers.

Market Environment and the New Investment Paradigm

The weak market conditions throughout 2025, combined with investors’ dispersed attention across competing narratives, fundamentally altered token sale dynamics. Rather than holding for long-term appreciation, participants increasingly adopted shorter holding periods and faster profit-taking strategies. This shift reflects a broader recognition that market sentiment can reverse rapidly, and securing gains quickly has become more prudent than betting on sustained momentum.

The resulting landscape—where only 12% of projects will still maintain profitability for their early investors—underscores a critical reality: token sales remain inherently volatile and risky, with success concentrated among a select few rather than distributed across the broader market. For future participants, this serves as a reminder that due diligence, project fundamentals, and prudent risk management will still be essential components of any token sale investment strategy.