The Believe platform, associated with the LaunchCoin ecosystem, has surpassed a total market capitalization of $549 million following an API update that enables builders to burn their coins programmatically. Over $10 million has been paid out to builders in less than a month. Recent platform improvements include a new website allowing builders to launch projects directly via the web, facilitating smoother launches, and the imminent resumption of Believe-endorsed launches. However, due to a surge in non-project coins, launches using the @launchcoin handle have been temporarily paused, although builders can still proceed through other means. In response to increased incidents of account hacks and scams, Believe is shifting its coin launch method from automatic Twitter-based issuance to a website application with manual review, a move that has received mixed reactions given the traditional appeal of blockchain platforms being permissionless. Additionally, the launch of a competitor platform, Gavel.xyz, has impacted Believe's token market capitalization, causing it to drop from $268 million to $170 million.