Secondary token deals show wider discounts, with 90%+ first seen in late 2025

An Apr. 5 edition of The Block's "The Funding" newsletter says discounts in crypto token secondary markets have generally increased in recent years, based on OFFX data. Average discounts shifted from about 38% in late 2023 to roughly 45–50% in 2024–2025, while the deal range widened and 90%+ discounts appeared for the first time in late 2025.