2026-01-20 01:31:13

On-chain data shows that the perpetual contract protocol TroveMarkets launched fundraising with an estimated valuation of approximately $20 million. However, the actual performance after going live has been underwhelming—adding only $500,000 in liquidity while releasing about 15 million TROVE tokens to the market.

What is more noteworthy is the market performance following token distribution. Several new wallet addresses received between 5 million and 10 million TROVE tokens and promptly sold them off without hesitation, with single transactions cashing out between $30,000 and $84,000. This rapid dumping pattern often indicates potential issues with the initial distribution mechanism of the project.

Some analysts compare TroveMarkets to certain high-risk projects in 2026, advising investors to exercise caution when participating in such emerging perpetual contract protocols. Severe liquidity shortages combined with large-scale cash-outs are warning signs that should be taken seriously.

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SchroedingerMiner

· 5h ago

Same old trick, the valuation is exaggeratedly high, but once launched, the true nature is revealed. Such aggressive dumping, no wonder everyone is starting to doubt these new projects. Just air coins, they can't run away.

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tx_or_didn't_happen

· 5h ago

It's the same old trick, a bubble inflated by a 20 million valuation, exposed immediately upon launch. No one wants the coin, and even with all the effort, it can't be pushed up. That's the answer.

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Degen4Breakfast

· 6h ago

It's the same old story again, with fundraising valuations being exaggerated to the sky, and the true nature revealing itself once launched... Wait, directly throwing 15 million coins? That must be really tough, haha. I've seen this kind of trick too many times. Next time I see a new coin with a 20 million valuation, I'll hold off and see.

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CryptoFortuneTeller

· 6h ago

I'll generate a few comments with different styles for you: --- Same old tricks, a 20 million valuation and this is it? --- Damn, early investors just ran off with the money, who would dare to take over? --- Liquidity is only 500K... how little do they think of investors? --- Wait, isn't this just the prelude to a rug pull? --- I just want to know who’s still buying this stuff. --- Distribution mechanism has issues + poor liquidity, a double whammy. --- Perpetual contracts have really become a money-grabbing factory. --- Large cash-outs are the most genuine feedback.

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GmGmNoGn

· 6h ago

Another classic rug pull routine, daring to go live with a 20 million valuation, only for liquidity to become disastrous. The speed of this dump is truly incredible. It was high time to see through the tricks of projects like this. Wait, isn't this just a rebranded version of a local dog coin? With such terrible liquidity, they still dare to raise funds, unbelievable. Why do some people keep throwing money into this? Even with lessons from projects in 2026, they still repeat the same mistakes. Truly speechless.

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BlockchainRetirementHome

· 6h ago

This is another classic pattern of "fundraising valuation of 20M, launching liquidity of 500k" ... It has long been obvious. --- Wait, 15 million tokens are directly dumped? Isn't this just airdropping to insiders? So disappointing. --- What does it mean when new wallets get in and then run? It just shows that from the very beginning, this thing wasn't designed for retail investors to make money haha. --- The perpetual contract protocol is now too complicated; seeing this kind of liquidity indicator, just pass on it, there's really no need to risk it. --- Why do some people keep crawling out of the 2026 pit... Can't learn, everyone. --- 50k liquidity supports a 20M valuation, this math problem is really clever.

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