Well, folks, it seems that the newly launched Wayfinder (PROMPT) and KernelDAO (KERNEL) tokens are on a rollercoaster that’s taken a rather drastic plunge shortly after their initial ascent.
Despite securing a spot on platforms that are so prominent they could practically be considered landmarks, both tokens have made sharp corrections akin to a cowpoke on a bucking bronco. This raises a question as tricky as a cat in a room full of rocking chairs: can new launches survive in a market more crowded than a Sunday church?
Why Are New Tokens Like PROMPT and KERNEL Struggling to Keep Their Hats On?
PROMPT is meant to be the utility and governance token tied to The Wayfinder Foundation, which, like an ambitious prospector, uses fancy autonomous artificial intelligence (AI) to trot across various blockchains. This, naturally, is intended to make transactions smoother than a greased pig at a county fair.
The Token Generation Event (TGE) for PROMPT was announced on April 10, 2025, via X (the platform formerly known as Twitter, which has taken the name change with all the grace of a three-legged dog). This allowed users to claim tokens on Ethereum (ETH) and Base.
“The moment you’ve been waiting for! PROMPT claim is LIVE!” chirped the post, probably with a flourish.
Simultaneously, the token cozied up with major exchange listings from Coinbase, OKX, BitMart, and Gate.io. Bybit even rolled out the PROMPTUSDT Perpetual futures contract in its Innovation Zone, allowing users to trade with leverage that has more ups and downs than a circus seesaw. Binance Alpha also jumped on the bandwagon after the launch.
Now, you might wonder, what’s this Innovation Zone and Binance Alpha? Think of them as the playground for fresh crypto projects, teeming with potential but risky as betting your last dime on a one-legged horse.
Initially, PROMPT saw a price surge so dramatic it could’ve entered rodeo competitions, reaching a high of $0.60 on April 12—a staggering 233.3%! However, like a firework that fizzled out too soon, this rally was as short-lived as a summer romance. Fast-forward to now, and the token is languishing 46.3% below that all-time high.
In just the past 24 hours alone, PROMPT took a nosedive of 29.2%. As I write, it’s hovering at a mere $0.33.
Meanwhile, KernelDAO’s KERNEL token joins the fray, having its own turbulent ride akin to a fish out of water. The airdrop kicked off on April 14 at 11:00 AM UTC.
“Leading exchanges—including Binance, Bitvavo, Gate, HTX, KuCoin, Kraken, LBank, and MEXC—confirmed the listing of KERNEL, with more looking to join the festivities,” KernelDAO announced, clearly in high spirits.
Upon launch, KERNEL saw a modest spike of about 5%. Yet, much like a balloon losing air, it quickly succumbed to a continued decline. At this moment, it’s trading at $0.32, down by 29.8%—a real heartbreaker!
The price plummets of PROMPT and KERNEL suggest that the old reliable method of launching tokens through major exchanges and TGEs is about as sure-fire as a gambler’s promise. As the market gets cluttered to the brim, that initial explosive hype fades away quicker than last week’s news, leaving many tokens scrambling for any semblance of momentum.
A recent report by BeInCrypto corroborates this observation, shining a light on the fact that a staggering 89% of tokens listed on Binance this year are currently in the red. As the cryptocurrency landscape matures like a fine cheese, it seems investors might need to look beyond the ephemeral buzz and focus on the sturdier factors that truly add value to these tokens.
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2025-04-15 13:33