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Recent High-Funding Infrastructure Projects Criticized for Low Post-TGE Activity
11/29/2025, 13:36
11/29/2025, 14:06
AI SUMMARY
●Celestia faces scrutiny for minimal fees and TVL despite a $156M raise.
●0G Labs token reportedly trades 76% below TGE price with only $1.5M TVL after raising $357M.
●Story Protocol criticized for low on-chain activity relative to its $216M funding.
Market participants are scrutinizing the post-Token Generation Event (TGE) performance of several high-profile infrastructure projects, noting a discrepancy between their massive capital raises and subsequent on-chain activity. Analysts highlight that Celestia, despite securing $156 million in funding, currently generates minimal daily fees and shows low Total Value Locked (TVL) according to data from DefiLlama.
Similarly, 0G Labs has drawn criticism after raising $357 million. Reports indicate its token is trading approximately 76% below its TGE price, with the protocol holding only about $1.5 million in TVL. Story Protocol is another example mentioned, having raised $216 million but currently displaying low on-chain metrics relative to its funding size. These examples have sparked discussions about the viability of well-funded "zombie" projects in the current cycle.