2026-01-20 00:58:13

On-chain data shows that the perpetual contract protocol TroveMarkets, which launched with a $20 million FDV fundraising, has not performed well since going live. To date, the project has only added about $500,000 in liquidity, a significant gap compared to its fundraising scale.

What’s even more noteworthy is the token release situation. The project has released approximately 15 million TROVE tokens, but the market reaction afterward was quite aggressive—several new wallets received between 5 million and 10 million TROVE and quickly chose to sell. These wallets cashed out single transactions ranging from $30,000 to $84,000, with the rapid cash-out reflecting early participants’ lack of confidence in the project.

Some on-chain analysts mock TroveMarkets’ performance as a “2026” example (referring to a certain type of failed project pattern). The huge disparity between the fundraising valuation and actual liquidity, combined with the large token sell pressure, makes this new perpetual contract star’s market debut a classic case of “opening high and falling low.”

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SandwichDetector

· 12h ago

It's the same old story, overhyped fundraising, bottom-tier liquidity, early bagholders rushing to exit—classic weed-cutting process.

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LuckyBearDrawer

· 12h ago

Another project with an inflated valuation, raised 20 million but only added 500,000 in liquidity, hilarious Get the tokens and run, early participants are all cashing out, this is a signal Model case for 2026 +1, who’s next

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NFTArchaeologis

· 12h ago

It's that classic "valuation illusion" script again... raising 20 million in funding but only pulling in 500,000 in liquidity, and that gap itself is telling a story. The behavior of the early wallets was quite honest, voting with their feet. From this perspective, on-chain data will always "speak" louder than any white paper.

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PerennialLeek

· 12h ago

Another big project, huh? A valuation of 20 million but only 500,000 in liquidity—what a gap... Early investors got the tokens and immediately ran away. Honestly, I don't blame them; there's no confidence at all. The 2026 model... haha, I can't hold back. Do the project team really know how to name things? Funding and actual liquidity are completely different matters. Is the perpetual contract track this competitive? I just want to know where all these 15 million TROVE went. The bleeding is pretty intense. Another combo of overestimated valuation + insufficient liquidity + crazy sell-offs. I've memorized this routine. Early investors leaving instantly—what does that say... I don't need to tell you. This thing was "cooling off" on the first day after launch, so sad.

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