In this cycle, the happiest should be the small teams with low valuations and cash on hand. If they only launch on Alpha, their market value will likely top out at around 150 to 200 million.

If they have a very small chance of launching on Binance, then about 1 billion is a benchmark. Based on the recent performances of several new coins, they generally can't handle the sell-offs there.

This has also led to the project valuations and pre-sale prices in this cycle generally dropping to several million dollars, which is quite good. $BNB