ME News message, September 20 (UTC+8): Crypto trading and market-making company GSR released a research report stating that, based on its statistics of over 2,300 token listing events on major exchanges since 2013, the median listed token price fell below the issue price within 3 days, and dropped 50% within 90 days. The data show that tokens with high FDV and low circulating supply tend to perform worse over the long term. For tokens with an issued FDV exceeding $1 billion, the median return one year later was -81%; for tokens with initial circulating supply below 20%, prices fell by about 75% after one year, while tokens with circulating supply between 30% and 50% declined by about 45% over the same period. (Source: ME)