We have our experiment running in the IP Address Guide and it is checking the performance of the most popular and well-known rebase tokens. Since it started on December 8th, we have invested more than $10,000 in different protocols, and the sad truth is that the entire investment right now is worth approximately $2,500. Considering that the number of tokens have greatly grown due to the nice APYs of the different tokens, it only emphasizes even more the terrible price action seen by all these tokens.
The strange thing is that the mother of all the rebase tokens, OlympusDAO, is among the worst-performing tokens, down more than 80% since it entered the experiment. The best performing tokens are only down 60% in value (which is terrible as well).
The results from the last seven days
The market has recovered a bit, even though the Ukraine-Russia situation still hangs upon us. But, even so, the rebase-tokens are still suffering, and the best performing token only had a 10% value increase in the last seven days.
The worst performers were down more than 40% (FortressDAO), while OlympusDAO had a value decrease of more than 20%.
You can find all the numbers right here: https://www.ipaddressguide.org/this-just-gets-uglier-and-uglier-the-rebase-token-battle-february-23rd-march-2nd/
Is this the end of the rebase tokens?
That is a question that we are asking ourselves. The market seems to forget about the rebase tokens and the hype around them is totally gone. The Wonderland crisis has probably made things even harder, but the serious and hard-working protocols like KlimaDAO, OlympusDAO, and Hector Finance are also suffering, even though they are actually doing lots of great things.
So where is this heading? Time will show, and we will pay attention!
What do you think? Do you still own any rebase-tokens? Are you bullish on the future?