Deep Tide TechFlow news, on July 2, according to data released by X platform user @ahboyash, 56 venture capital-backed tokens have been listed in the first half of 2025. Among them, 80% (45 projects) had a total fully diluted valuation (FDV) between $50 million and $1 billion at the time of their token generation events (TGE), 8 projects were below $50 million, and only 3 projects (@KaitoAI, @StoryProtocol, and @WalrusProtocol) exceeded $1 billion. The data also indicates that venture capitalists usually invest at valuations between $20 million and $100 million during the seed round, and investors need to lock up for about 3 years after the TGE, while some projects' current trading prices are below their previous financing valuations, putting investors at a loss.