Trove Markets, a new perpetual decentralized exchange (DEX) focusing on non-traditional assets, has set its initial coin offering (ICO) target at a $20 million fully diluted valuation (FDV). The ICO, running from January 8 to January 11, 2026, aims to raise $2.5 million, representing 12.5% of the total token supply. Market predictions suggest a 60% probability that Trove's FDV will exceed $20 million one day post-launch, with current market prices reflecting this sentiment. The project's immediate token generation event (TGE) will see 100% of tokens unlocked, potentially driving the FDV above the $20 million mark if market conditions are favorable. Analysts suggest that the market may be undervaluing the likelihood of a higher FDV, estimating a more realistic probability of 75-80%.