Infinex, which raised 65 million in funding, faces a cold reception for its IPO: only $460,000 raised in 27 hours, what happened

Infinex token sale has been ongoing for nearly 27 hours, but the subscription amount is only $457,968, far below market expectations. This leading exchange project, which aims to raise $65 million, has encountered such a cold market response during the initial phase—why?

The Contradiction Behind the Phenomenon

According to the latest news, Infinex’s token sale via the Sonar platform has been active for nearly 27 hours, and the current subscription progress is significantly below expectations. The mismatch between the fundraising scale and project popularity has attracted market attention.

The huge gap between fundraising scale and subscription enthusiasm

At this subscription rate, it is unlikely to reach the expected amount within the 4-day sales period. For a project aiming to raise $65 million, this is indeed a warning sign.

Why is this happening?

Changes in market sentiment

According to the latest predictions from Polymarket, the probability of Infinex raising over $3 million in a public sale is only 53%, indicating that market enthusiasm for this project is not high. This is not an isolated phenomenon but reflects the current cautious attitude of the crypto market towards new projects.

Controversies surrounding the project itself

According to relevant information, Infinex’s founder paid a $50,000 bet to Multicoin Capital co-founder after losing a wager on ETH price predictions. Although the amount is small, this “failure” event exposes issues with the founder’s forecasting ability and may undermine investor confidence.

The uniqueness of the initial offering model

This sale adopts a 1-year lock-up period. To unlock at TGE, investors need to buy at a valuation of $300 million. This requirement presents a high threshold for ordinary investors and may limit participation enthusiasm.

The true voice of the market

Comments on related news suggest the market reaction is not optimistic. Some comments say, “Only $100K? Isn’t it supposed to raise $5M? Infinex is a bit disappointing,” and others question the strategy of “selling NFT quotas and then lowering the limits.” This indicates a gap between market expectations and actual performance.

Key points for future observation

With more than 2 days remaining in the sale period, whether the progress can catch up in the remaining time is crucial. Based on current speed, even with acceleration, it will be difficult to meet initial expectations. This will impact Infinex’s final valuation and market performance.

Summary

Infinex’s cold reception reflects not only issues with this individual project but also the overall cooling trend in the crypto market. No matter how large the fundraising scale, if market confidence is lacking, enthusiasm for initial offerings will be hard to sustain. Founder’s betting failure, Polymarket’s low-probability predictions, conservative lock-up conditions—these factors combined have led to the current lukewarm situation. The subscription progress over the next three days will further test the market’s true attitude toward Infinex.