Caldera $ERA

Neither of the two founders are from the cryptocurrency space originally. They just established the project during the last bull market and secured investment led by Sequoia. Launched simultaneously on Binance and Upbit, the initial actual circulating supply was only 9%, yet it still dropped 30% on the first day.

This is also a common sign of the last round of VC projects, where the initial entrepreneurship in the crypto space combined with North American kids resulted in massive financing, but ultimately this is what happened with the token launch.

Like all VC tokens, there hasn't been much trading volume since the first day.