LaunchCoin is 200 times a day. Why is Believe so powerful after being renamed?

From PASTERNAK to LaunchCoin, Believe is reborn from the concept of influence to the concept of trust and is reborn from the ruins of surges and plummeting.

Written by: BUBBLE

LAUNCHCOIN broke the market value of US$200 million today. The liquidity that has not been seen for a long time and the "Memecoin" with such a high market value have almost all participated in half of the on-chain encryption circle. The community is crazy about this token, half of which is FOMO and half is FUD. Pasternak, which was once issued as a personal identity as Believe founder Ben Pasternak, transformed into a new platform coin after being renamed.

From a time to zero to a market value of US$200 million, what happened?

PASTERNAK's spirit

On January 8, 2025, Ben Pasternak, a 25-year-old Australian young entrepreneur posted a tweet on social media X, "Buy me on Clout APP". At that time, not many people in the Crypto circle knew him. Two weeks later, on January 24, the token met the conditions for Clout platform financing to reach 100%, becoming the first token launched by the platform, and reached a market value of US$80 million.

It was then that we learned that Ben developed the popular game "Impossible Rush" as early as the age of 15, founded the social platform Monkey at the age of 17, with a user count of more than 20 million. At the age of 20, he launched plant-based chicken nuggets NUGGS, which successfully entered the Walmart market. When he turned his attention to the field of encryption, he launched the Clout with the concept of "SocialFi".

At that time, Clout's core philosophy was to transform "personal influence" into tradable digital assets. When the number of followers of a social media account reaches a certain threshold, the system will automatically generate the corresponding token contract, making the influence a quantifiable and tradable asset. At this time, Ben compared Clout to "Wall Street and Hollywood in the Web3 era."

As the first token of the Clout platform, $PASTERNAK's market value exceeded US$80 million within 5 hours of its launch, a large part of which is due to the fact that it comes from multiple influential investors and people from the Solana community. Among them, AllianceDAO's Imran Khan was not only supported by AllianceDAO publicly, but Imran's token has also become the second token launched by the Clout platform. Referring to the glorious history of AllianceDAO's investment or support, the market is also extremely FOMO.

The front end of the mobile app crashes and disappears

Unfortunately, the good times didn't last long, except for $PASTERNAK. At that time, the community had an impression of the platform that the possibility of making money was extremely low, and almost all the market was "drunk" when participating in all celebrity tokens on the platform. What's even worse is that after the mobile app was launched, the tokens that were supposed to be online to the foreign disk after the front-end of the app crashed, while the participants in the internal disk were in an embarrassing situation where they could not trade and could not receive tokens.

After $PASTERNAK created $250 million in trading volume in 24 hours, the token price began to fall on the second day, and its market value shrank to 1/30 of its high in just one week. When it dropped to a market value of US$180,000 in March, everyone believed that this platform would fall like many SocialFi, and the market has long been accustomed to it.

Believe the power of believing

On April 28, Clout announced that it would change its name to Believe and wrote "Believe in someone → Believe in something". The official deleted all previous tweets, representing a new beginning. The concept of the platform has also changed from the traffic economy dominance of "Nasdaq, celebrity social networking" to the value investment dominance of "Silicon Valley technology independently invested in silicon land".

On the second day, $PASTERNAK was also renamed $LAUNCHCOIN, the same name as Believe's transmitter on X. At this time, the community's speculation that PASTERNAK has become the official platform coin.

Nikita Bier, a former Solana, xAI and Coinbase product growth consultant, praised Believe and called it a "killer viral app" and listed a series of data to prove this. Nikita, also a super entrepreneur, has made several products previously purchased by social technology companies such as Meta and Discord, which also makes his words more convincing. At the same time, because of Nikita's voice in the community, the token once again rose from US$1 million to US$22 million within 24 hours.

In the following two weeks, LaunchCoin continued to appear new projects, but did not have any major impact. However, around May 12, as a group of entrepreneurs such as $GOON, $BUDDY, $NOODLE and other entrepreneurs appeared in the market with their products and obtained a good market value, the market attention gradually returned. As of the time of writing, the token market value has exceeded US$260 million. Since then, LaunchCoin has completed its own counterattack.

Community response

James, a well-known chain player, recently shared his experience of losing $340,000 on LaunchCoin on social media X. I believe this is the voice of many players who participated in this ecosystem during the Clout period. When the last time I was "harmed", the distrust of this made many people miss the real surge.

Trading is such an "anti-human" behavior, among which the famous "Car Tie" Gake, more people are familiar with her another name, "DNF", shows their trading philosophy on the token. Judging from the on-chain data, she chose to "buy at the bottom" of $25 million after LaunchCoin's first popularity faded, and after falling 70% from its high point, she chose to "buy at the bottom" of $20,000.

But the price did not rebound as expected, but fell all the way to a market value of US$280,000. At this time, DNF chose to "buy at the bottom" US$3,500 again. The price of the bottom-up price fell by 90% and the position of the bottom-up price also became 17.5% of the last time, and then the price rose by 50%, 400%, and 800% respectively, reducing the cost of some positions.

After that, there was 2 months of patient waiting. After Clout changed its name to Believe, it was "shipped" in batches. Now there is only about 13% of the position left at the address, and the total profit obtained is as high as US$1.3 million. This is not the battle where DNF makes the most profits or multiples, but how to judge the holding target, when to hold for a long time, and when to buy at the bottom is very representative, which is something that all traders need to consider.

LaunchCoin, which was reviewed by 100X, is not a very "glorious" project, but a hundred times coin that once had a dark history. But this is also a microcosm of the "zero-sum game" of tens of thousands of token transactions. From "Influence Clout" to "Trust Believe", this is a change in BEN's first-principles understanding of currency after the last failure, and it is also what is happening in the market now.

There is no lack of influence in our market, but trust.