Listed stocks are emerging as a more attractive investment than tokens in the crypto market, Cointelegraph reported on Saturday.
More than 80 percent of new tokens in 2025 fell in price immediately after listing, with an average decline of 50 to 70 percent, according to DWF Labs research. By contrast, crypto-related IPO and M&A values surged to $14.6 billion and $42.5 billion, drawing investor attention.
DWF Labs managing partner Andrei Grachev (안드레이 그라체프) analysed the shift of funds from tokens to stocks as “rotation rather than withdrawal.” Shares of listed companies such as Circle, Gemini and eToro trade at 7 to 40 times revenue and are being valued more highly than token-based projects, Cointelegraph said.
Investors prefer stocks over tokens because of accessibility and stability in regulated markets, Cointelegraph added.
WeFi co-founder Maksim Sakharov (막심 사하로프) said investors are demanding clearer ownership and more transparent disclosure as risk aversion strengthens.
Chi-gyu Hwang
delight@d-today.co.kr