Believe app wave
 | |
| date | April to October 2025 (peak May 2025) |
|---|---|
| blockchain | Solana |
| platform | Believe (formerly Clout), founded by Ben Pasternak |
| native token | LAUNCHCOIN, later BELIEVE |
| peak | about 319 million dollar LAUNCHCOIN market cap, May 2025 |
The May 2025 boom in tokenized startups on the Believe launchpad, which branded itself the home of internet capital markets before revenue collapsed 94 percent from its peak.
The Believe app wave was the spring 2025 boom around Believe, a solana launchpad that let anyone mint a token by replying to a post on X, and the accompanying "internet capital markets" (ICM) meta that briefly recast meme coin speculation as startup investing. For several weeks in May 2025 Believe was the fastest growing launchpad in crypto and its LAUNCHCOIN token one of the market's best performers, before activity and revenue collapsed through the second half of the year.
Mechanism and rise
Believe was founded by Ben Pasternak, an Australian entrepreneur previously known for consumer apps and the food startup behind NUGGS, and evolved from an earlier app called Clout. Its token LAUNCHCOIN originally traded as PASTERNAK before being renamed. The platform's hook was frictionless creation: posting a ticker and tagging the Believe account minted a token on Solana within minutes, with fees shared between creators and the platform. Believe branded its listings as tokenized startups rather than meme coins, attaching real apps and founders to tickers, and the ICM framing (public, permissionless funding of internet projects) spread across crypto twitter. Between May 12 and 15, 2025, LAUNCHCOIN's market capitalization grew roughly tenfold to about 319 million dollars, and Believe briefly rivaled pump fun in launchpad mindshare.
Decline
The wave receded almost as quickly. The Defiant reported that Believe's weekly revenue fell 94 percent from its May peak within two months, as most tokenized startups traded like any other microcap and lowcap chart: launched, spiked, and bled out, with creators accused of farming the model. In October 2025 the platform rebranded LAUNCHCOIN to BELIEVE with a supply increase the team framed as 25 percent but which blocmates calculated at 33 percent, drawing accusations of quiet dilution. By early 2026 the token traded roughly 99.7 percent below its May 2025 record of 0.36 dollars per CoinGecko. The wave is remembered in the trenches as the definitive ICM experiment: proof of enormous appetite for tokenized apps, and proof that launchpad economics converge on the same exit liquidity dynamics regardless of branding.
References
- https://www.coingecko.com/learn/what-is-believe-token-launchpad
- https://incrypted.com/en/internet-capital-markets-and-believe-app-when-an-explosive-trend-finds-its-launchpad/
- https://thedefiant.io/news/defi/launchcoin-tumbles-as-believe-app-s-revenue-falls-94-from-may-peak
- https://www.blocmates.com/news-posts/believe-app-believe-token-launch-backfires-over-math-error-and-supply-confusion
- https://www.coingecko.com/en/coins/launch-coin-on-believe
- https://99bitcoins.com/news/launchcoin-and-believe-app-crypto-internet-capital-markets/
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