Hey there, crypto enthusiasts! If you’ve been keeping an eye on the on-chain finance space in 2025, you’ve probably noticed some exciting movements. A recent tweet from Noah @TraderNoah on July 9, 2025, highlighted the three best-performing fundamental assets in this sector year-to-date: $SYRUP, $HYPE, and $EUL. These tokens are making waves, and their unique approach to avoiding centralized exchange (CEX) listings and venture capital (VC) ownership is worth digging into. Let’s break it down!

Why $SYRUP, $HYPE, and $EUL Are Standing Out

Noah points out that these tokens have shown impressive performance without the traditional boost of viable CEX listings at attractive price points. For those new to crypto, a CEX is like a big online marketplace (think Binance or Coinbase) where you can buy and sell tokens. However, getting listed often comes with a catch—exchanges might ask for a hefty chunk of a project’s token supply (2.5% to 10%) as a listing fee. Noah suggests that $SYRUP, $HYPE, and $EUL teams avoided this, potentially keeping more value for their communities.

• $SYRUP: This token has been a sleeper hit, likely due to its focus on community-driven growth rather than relying on exchange hype.
• $HYPE: Still lacking a Tier 1 exchange listing, $HYPE’s success hints at strong on-chain demand from funds.
• $EUL: Similar to $HYPE, $EUL’s performance shows that quality projects can thrive without bowing to CEX demands.

The CEX Listing Dilemma

So, why haven’t these tokens jumped on the CEX bandwagon? Noah argues that exchanges often prioritize listing “scams” over high-quality assets because legit projects aren’t willing to give up such large token allocations. This creates a paradox: exchanges profit from these fees, but it can dilute a project’s value for early investors. For $HYPE and $EUL, the absence of Tier 1 listings might actually be a strength, letting them build organically on decentralized platforms.

The Role of VC and Liquid Fund Ownership

Another fascinating point Noah raises is the lack of material VC ownership in these projects. Venture capitalists often invest early and can influence a project’s direction, sometimes pushing for decisions that benefit their exit strategy (like selling off tokens). Instead, $SYRUP, $HYPE, and $EUL seem to have high liquid fund ownership—think hedge funds or institutional players who buy in with cash and hold. This setup can reduce sell pressure since these funds aren’t tied to the same exit timelines as VCs. Plus, without VC “bad advice,” the teams can focus on building solid businesses.

What This Means for the Crypto Market

This trend could signal a shift in 2025. Projects that prioritize decentralization and community value over exchange listings might be the future. It’s a bit like choosing to shop at a local market instead of a big chain—more control, less middleman interference. Noah’s thread sparked some great replies, with users like Lai Yuen and Mitchell suggesting alternatives like Hyperliquid, a decentralized exchange (DEX) offering cheap, permissionless listings.

Final Thoughts

The success of $SYRUP, $HYPE, and $EUL shows that quality can outshine hype in the crypto world. If you’re a blockchain practitioner or just a curious investor, keeping an eye on these tokens could be a smart move. Want to dive deeper into meme tokens or on-chain trends? Check out Meme Insider for the latest updates and insights. What do you think—will more projects follow this path in 2025? Drop your thoughts in the comments!