#数字货币市场洞察 recently set sights on a newly launched RWA project called TRADOOR, which claims to be an AI-driven tokenization platform and only started trading on December 3. I checked the data and the more I looked, the more something felt off.

Let’s start with the valuation. The project only raised $3.2 million in funding, but its FDV shot up to $85.48 million upon launch—that’s a 26.5x multiple. What does that mean? Early investors are sitting on ridiculous paper gains and could dump at any time. Even weirder, on the very first day, the open interest plummeted by 21.56%, which is rare for any new token. Normally, a new listing should attract inflows, right? This clearly shows someone pre-stacked their position and started dumping right at launch.

The technicals don’t hold up either. It opened at $1.50, dropped to $1.44 within a few hours, and is now stuck between EMA12 and EMA26 (at $1.435 and $1.440, respectively), with barely any strength to rebound. The funding rate is slightly positive at 0.005, but considering the collapse in open interest, it’s likely that the whales are hedging short—on the surface, longs are paying, but in reality, they’ve already flipped.

Fundamentally speaking: The RWA space is crowded with similar projects right now, so what sets TRADOOR apart? With such a short time since launch, there’s no user data or TVL to show for it, and liquidity is concentrated on a single exchange, making risk exposure too high.

If I were to trade this, I’d lean toward shorting if it rebounds below $1.40, set my stop loss at $1.55, and target $1.10 first, or $0.90 for a more aggressive approach. This “dump right after listing” pattern actually has a pretty high historical win rate, around 75%. Of course, shorting is risky, especially with the volatility of new tokens, so position sizing is key.

$TRADOOR This case is yet another reminder: new projects with high FDV and low circulating supply, especially those with suspicious first-day data, are basically always traps.