Dragonfly partner Haseeb: Even in a bull market, issuing coins still needs to go through the test of a bear market

On July 8, Haseeb, managing partner of Dragonfly, posted on social media that many founders tried to launch tokens during the bull market, but these tokens still had to go through a bear market in the end. Haseeb was skeptical about the impact of market cycles on the long-term value of tokens, and believed that this implied that some tokens systematically underperformed due to the market cycle at the time of issuance, which was unlikely.

Haseeb added that while tokens issued in a bull market may have more funds for growth, market competition is relative. If the market falls by 50%, the native token ecosystem fund will also fall by 50%, and the market share will remain relatively unchanged. Haseeb emphasized that the timing of fundraising activities is indeed important, but he was discussing token issuance (TGE), which is more like a direct listing than a fundraising activity.