Most 2025 tokens launched at billion-dollar FDVs. Where are they now?

Several tokens launched in 2025 with multi-billion dollar FDVs and relatively low initial float.
Months later, both valuation and circulating supply have shifted materially.
• $TRUMP: −88% FDV since TGE | Supply: 20% → 49.75%.
• $BERA: −93% FDV | Supply: 12.7% → 30.2%.
• $PLUME: −93% FDV | Supply: 20% → 51%.
• $LINEA: −85% FDV | Supply: 22.8% → 34%.
A few tokens show relative stability:
• $ZORA : FDV above launch level
• $ASTER : valuation broadly stable, limited float expansion
In most cases, FDV compression coincided with meaningful float expansion.
Tracking circulating supply growth alongside valuation provides clearer context than price alone.