OHM, TIME, KLIMA Down Over 98% From All-Time Highs Cointelegraph

About four months ago, four of the top rebase tokens by market valuation were worth nearly $8 billion in USD value and today, the entire set of rebase tokens are collectively valued at $1.14 billion. The largest rebase crypto by market cap, olympus (OHM), had a market valuation of $4.3 billion last November, but after losing 98.1% in USD value, OHM’s market cap is down. now $438 million.

Over $7 billion left the rebase token economy in the past four months

During the first week of November, Bitcoin.com News reported on the olympus (OHM) rebase token and how the algorithmic reserve-backed crypto asset works. Three weeks later, OHM’s aggregate market capitalization reached an all-time high (ATH) at $4.35 billion on November 23. OHM already had a record price months earlier in April, when it hit a high of $1,415 per coin on Nov. 25. . Since that day, Olympus (OHM) has lost 98.1% of its value against the US dollar.

Rebase Token Carnage: OHM, TIME, KLIMA down over 98% from all-time highs
OHM/USDT two-hour chart on April 16, 2022.

OHM sparked a slew of Olympus forks and the Avalanche-based reserve currency protocol called Wonderland (TIME) saw its market cap jump by over $2 billion three days ahead of OHM’s ATH market cap. While TIME’s market cap hit an ATH on Nov. 21, the asset itself saw a high price on Nov. 7, 2021, when it hit $10,063 per unit five months ago. Since November 7, TIME has lost 98.8% in value against the US dollar. The Rebase Token Redacted Cartel (BTRFLY) is down 93.6% in value and klima dao (KLIMA) is down 99.5%.

At one point, the aggregate market caps of OHM, TIME, BTRFLY, and KLIMA were around $7.885 billion and today the rebase tens and tens are worth $1.14 billion. More recently, a slew of rebase tokens have seen double-digit gains, in terms of two-week rankings. 14-day data shows rebase coins midasdao (CROWN), dollars (USDX), spartacus (SPA), euphoria (WAGMI) and templedao (TEMPLE) saw double-digit price increases against the US dollar .

While OHM is 98.1% lower than it was in November, there is still approximately $5.3 million in global transaction volume and $24.71 million in total value locked (TVL) in terms of staking. Wonderland users are staking $638.76 million today, but TIME only saw $630,447 in global 24-hour trade volume. TVL metrics and overall global trading volume for rebase tokens, in general, have also declined significantly over the past four months.

Keywords in this story

rebase algorithmic coins, based on Avalanche, BTRFLY, decentralized finance, DeFi, KLIMA, klima dao, midasdao (CROWN), OHM, Olympus, Olympus DAO development, rebase, rebase coins, rebase economy, rebase tokens, redacted cartel , reserve-backed crypto asset, staking, templedao (TEMPLE), Time, TVL

What do you think of the market performance of rebase tokens like olympus, wonderland, cartel redacted and klimadao over the past four months? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the news manager for Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 5,000 articles for Bitcoin.com News about disruptive protocols emerging today.

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