From PASTERNAK to LaunchCoin, Believe evolved from a concept of influence to one of trust, reborn from the wreckage of volatile surges and crashes.
The Meteoric Rise of LAUNCHCOIN
LAUNCHCOIN's market cap surpassed $200 million today. Long-lost liquidity and the high market valuation of "Memecoin" drew nearly half of the on-chain crypto circle CT into participation. The community is fervently discussing this token—half in FOMO (fear of missing out) and half in FUD (fear, uncertainty, doubt). Originally issued by Believe founder Ben Pasternak under his personal capacity, the token was rebranded as $LAUNCHCOIN, transforming into a new platform coin.
From Zero to $200M: What Happened?
Pasternak’s High Spirits
On January 8, 2025, 25-year-old Australian entrepreneur Ben Pasternak tweeted, "Buy on the Clout app." Few in crypto knew him then. Two weeks later, the token met Clout’s funding threshold, reaching a $80M market cap overnight—becoming the platform’s first launched token.
We later learned Ben developed the hit game "Impossible Rush" at 15, founded the social platform Monkey (20M+ users) at 17, and launched plant-based chicken nuggets at 20, successfully entering Walmart. His pivot to crypto introduced Clout under the "SocialFi" concept, quantifying influence as tradable assets.
The Crash
Good times didn’t last. Beyond $PASTERNAK, the community saw low earning potential on Clout, with most celebrity tokens "abandoned." Worse, after launch, the mobile app’s frontend crashed, stranding tokens and leaving traders unable to transact.
$PASTERNAK hit $250M volume in 24 hours but plummeted days later, losing 97% of its value by March ($180K market cap). Many assumed Clout would fade like other SocialFi platforms—until April 28.
Believe’s Rebirth
Clout rebranded as Believe, shifting from "Nasdaq of celebrity networking" to "Silicon Valley’s tech-independent investing." The next day, $PASTERNAK became $LAUNCHCOIN, confirming its role as the platform’s official coin.
Nikita Bier, ex-Growth at Solana/xAI/Coinbase, praised Believe as a "killer viral app," citing data that reignited interest. His credibility (products acquired by Meta/Discord) fueled a 2200% surge in token value.
By May 12, projects like $GOON and $BUDDY revived market attention, pushing LaunchCoin’s cap past $260M—a full comeback.
Community Reactions
Caution vs. Opportunity
James, an on-chain player, shared losing $340K on LaunchCoin—echoing many scarred by Clout’s collapse. Others, like trader "DNF," bottom-bought at $20K (70% off peak), then again at $3.5K (90% drop), netting $1.3M after Believe’s rebrand. Her strategy highlights patience and timing—key for all traders.
The Bigger Picture
LaunchCoin isn’t a "glorious" project but a 100x coin with a dark past, mirroring the zero-sum game of token trading. From "Clout" to "Believe," it reflects Ben’s post-failure grasp of monetary principles—and a shift in today’s market.
"Our market lacks not influence—it lacks trust."
FAQ
Why did LaunchCoin surge 200x?
Rebranding as Believe restored confidence, attracting liquidity and new projects. Nikita Bier’s endorsement and strategic shifts (from SocialFi to tech investing) fueled growth.
What caused Clout’s initial crash?
Technical failures (app crashes), low utility beyond $PASTERNAK, and abandoned celebrity tokens eroded trust.
How did traders like DNF profit?
By buying at extreme lows ($20K → $3.5K) and holding through rebranding, capitalizing on renewed market optimism.
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Key Takeaways
- Rebrands matter: Believe’s pivot from Clout emphasized trust over influence.
- Timing is critical: DNF’s patience turned steep losses into massive gains.
- Market cycles: Memecoins thrive on hype but require underlying value to sustain rallies.
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LaunchCoin’s journey underscores crypto’s volatility—and the power of reinvention.