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Internet Capital Markets Face Sharp Decline in Trading Volume and Token Creation
Internet Capital Markets Face Sharp Decline in Trading Volume and Token Creation
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Internet Capital Markets (ICM) are showing signs of significant cooling, with trading volume plunging 80% from its May 14 peak of $729.3 million to just $143.6 million by May 20. The drop mirrors a 77% decline in new token creation over the same period, raising questions about sustained market interest.
Data from Dune Analytics reveals a stark slowdown: daily token creations fell from 4,977 on March 13 to 1,134 by May 20. Despite Believe App hosting over 23,000 token launches, a mere 5.3% activation rate suggests most fail to gain traction—a clear indicator of oversupply and speculative fatigue.
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