We are still running our rebase token experiment, even though it feels tempting to just throw it all in the garbage. How come? Our initial investment of more than $10,000 is now worth approximately $2000, and this last week, lots of the protocols dropped 20% or more in value. That is just terrible. And the bad thing is that they all go negative while the rest of the market is stagnating and remaining at approximately the same level.
So, is this the end of the rebase token life?
- You can find the full article with all results and graphs here
What happened in the last seven days?
Take a look at the chart below which is from the article above.
Do you know what I feel as I see those numbers?
It is one thing if those numbers would only have been there due to some crazy incident in the last seven days that made all tokens fall apart and prices just drop everywhere. But, that isn't the case.
The Russia-Ukraine mess is of course stirring up and creating volatility in the markets, but if you look at Ethereum, Bitcoin, Hive, and other tokens, they haven't been even close to dropping 20% or more in value.
In other words, the rebase tokens are performing much worse than the rest of the market. Does this mean that it is coming to an end? Was it just a hype that didn't succeed and now the protocols are dying slowly?
What do you think? Will even the champions, OlympusDAO, die out with the rest, or will this survive, one way or another?