About 4 months in the past, 4 of the highest rebase tokens by market valuation had been price near $8 billion in USD worth and in the present day, the complete lot of rebase tokens collectively are valued at $1.14 billion. The biggest rebase crypto by market capitalization, olympus (OHM), had a $4.3 billion market valuation final November, however after shedding 98.1% in USD worth, OHM’s market capitalization is now $438 million.
Over $7 Billion Exited the Rebase Token Economic system In the course of the Final 4 Months
In the course of the first week of November, Bitcoin.com Information reported on the olympus (OHM) rebase token and the way the algorithmic reserve-backed crypto asset labored. Three weeks later, OHM’s total market capitalization tapped an all-time excessive (ATH) at $4.35 billion on November 23. OHM already recorded an all-time worth excessive months earlier in April, when it reached a excessive of $1,415 per coin on the twenty fifth. Since that day, olympus (OHM) has shed 98.1% in worth towards the U.S. greenback.
OHM sparked a slew of Olympus forks and the Avalanche-based reserve forex protocol known as wonderland (TIME) noticed its market capitalization leap over $2 billion three days earlier than OHM’s market cap ATH. Whereas TIME’s market cap reached an ATH on November 21, the asset itself noticed a worth excessive on November 7, 2021, when it tapped $10,063 per unit 5 months in the past. Since November 7, TIME has misplaced 98.8% in worth towards the U.S. greenback. The rebase token redacted cartel (BTRFLY) has dropped 93.6% in worth and klima dao (KLIMA) is down 99.5%.
At one time, the mixture market capitalizations of OHM, TIME, BTRFLY, and KLIMA was round $7.885 billion and in the present day, the handfuls upon dozens of rebase cash are price $1.14 billion. In more moderen occasions, a slew of rebase tokens noticed double-digit positive aspects, by way of two-week standings. 14-day information reveals the rebase cash midasdao (CROWN), {dollars} (USDX), spartacus (SPA), euphoria (WAGMI), and templedao (TEMPLE) have seen costs achieve by double digits towards the U.S. greenback.
Whereas OHM is 98.1% decrease than it was in November, there’s nonetheless round $5.3 million in international buying and selling quantity and $24.71 million whole worth locked (TVL) by way of staking. Wonderland customers are staking $638.76 million in the present day, however TIME has solely seen $630,447 in 24-hour international commerce quantity. TVL metrics, and the mixture international commerce quantity for rebase tokens, usually, have additionally dropped significantly over the past 4 months.
What do you consider the market efficiency of rebase tokens like olympus, wonderland, redacted cartel, and klimadao over the past 4 months? Tell us what you consider this topic within the feedback part under.
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