TroveMarkets, a perpetual contract protocol, launched with a fully diluted valuation (FDV) of approximately $20 million. However, it has only attracted around $500,000 in new liquidity post-launch, while releasing 15 million TROVE tokens. Several new wallets received between 5 million to 10 million TROVE tokens and quickly sold them, cashing out between $30,000 and $84,000 per transaction. On-chain analyst Specter has likened TroveMarkets to "2026's zkasino," advising users to exercise caution.