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Alex Svanevik, chief executive officer (CEO) at Nansen, describes a commonly observed sequence in some token projects. According to the outline, projects raise money for a token, preserve capital, let the token price collapse, and see exits from most participants. Subsequently, founders vest, direct the treasury into the token without liquidity, create a price pump, and exit. Svanevik raises the question of who engages in this approach.
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Svanevik has previously summarized Japan's economic response to its 1990s-2000s asset bubble collapse and prolonged low interest rates in Japan kept rates near zero to manage debt after bubble burst. He has also highlighted widespread market doubt in Skepticism surrounds recent GOOGL market move. Both references reflect his attention to cycles of market behavior and participant responses.