According to @adriannewman21, crypto funding is pivoting from traditional VC to liquid venture via token-based crowdfunding, moving risk and liquidity earlier into public markets and away from private rounds; source: @adriannewman21 on X. For traders, this implies more early-stage token listings, faster price discovery, and higher volatility around TGEs and launchpads, while the IPO analogy underscores the need to evaluate exit pathways and token lockups when allocating to new token sales; source: @adriannewman21 on X.

According to @secondswap_io, SecondSwap has launched a live marketplace on AVAX and Solana, enabling users to list and trade their locked tokens directly with interested buyers. This platform provides an alternative to acquiring distressed crypto companies by facilitating secondary market liquidity for locked tokens. This development is likely to impact trading volumes and price discovery for AVAX and SOL token holders, as well as other token ecosystems seeking exit liquidity for illiquid assets (source: @secondswap_io).