New Project Pre-Screening｜2026.07.21 08:11 You can see that after the projects selected in the 1st-tier market go public, their price doubles directly. That’s why market research is valuable.

Today, we only update CRED. On its 3rd day after listing, a new pricing structure appeared, but the conclusion is not “if it’s strong then chase,” but to continue waiting for the secondary pricing.

CRED’s public offering price is about $0.40. This morning, the market aggregator quoted about $0.7638, still about 91% higher than the offering price; the 24-hour range is $0.7034 to $0.9522, with a July 20 high of $0.9522. Compared with the July 18 low of $0.4851, it has rebounded by about 57.5%.

On the surface, it looks strong, but the issue is follow-through liquidity. The currently visible circulating supply is about 22.66 million tokens, corresponding to a market cap of about $17.31 million; the 24-hour trading volume is about $0.965 million, only about 5.6% of market cap. With a fast price rebound but not-thick enough trading follow-through, it’s not suitable to treat the short-term rally as stable value discovery.

CRED is not a pure concept project. Public information shows that its stablecoin payment and PayFi business cumulative processing volume exceeds $784 million, with about $146 million in June 2026 on a monthly basis, and annualized revenue of about $3.5 million. These figures make it worth continuing to track, but they’re still not enough to prove that the token itself can capture the same value. Even if the payment business can run without CRED, what truly needs to be verified is whether revenue continues to flow back, whether governance can constrain additional issuance, and whether token holders can receive clear economic rights.

Price discipline remains unchanged: $0.20 to $0.24 enters the undervaluation research zone; $0.24 to $0.30 is only for observation; don’t chase above $0.35. At around $0.76, the price is significantly above the no-chase line, and it also hasn’t entered the $0.20 to $0.26 secondary pricing observation zone.

CRED has support from payment business and revenue data, but the token can be additionally issued; AMM pairing funds, market-making depth, governance additional-issuance constraints, and the execution of revenue returning are still not fully transparent. The currently visible market cap cannot simply be taken as a fixed FDV.

As for allocations, both the 10 million tokens in the public offering and the 2.9 million tokens in AMM liquidity are labeled as fully circulating. Early investors have about 5.23 million tokens with a 1-year lock-up followed by linear release over the next 3 years, while the team has about 4.53 million tokens unlocked in price-multiple tiers at least 18 months later. Near-term pressure is mainly not team unlocks, but the vesting of public offering tokens and price volatility amid shallow depth.

Conclusion: continue to list it as a key candidate, but don’t chase. Next, focus on whether trading volume converges when the price retraces, whether AMM depth remains stable, whether the public offering token vesting is concentrated, and whether there’s on-chain evidence of revenue returning and issuance permissions.

For ordinary users, just remember one sentence: the current price is still in a sentiment premium zone—don’t chase just because the market cap number looks small. Reassess only when it returns to the research zone, depth stays stable, and the supply constraints are clear, then do minimal position trial-and-error.

The GNOT auction has started, but the official public page has not yet shown any verifiable real-time settlement price; GRVT also has no new official TGE timing, so we won’t expand further today.

Risk warning: The above is only for project research and market observation and does not constitute investment advice. New projects are extremely volatile, so you must keep positions light, enter in batches, and strictly manage risk.