According to Lex Sokolin, every major token launched on centralized exchange (CEX) launchpads in 2025 has experienced significant price declines in the first month, high turnover among large holders, and a lack of community retention. This pattern indicates that current launchpad models are prioritizing short-term liquidity over long-term project value and user engagement, which could impact the sustainability and performance of new tokens in the broader crypto market. Source: Lex Sokolin