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While the crypto-economy has lost more than 3% in fiat value to $2.09 trillion in the past 24 hours, the top rebase token by market cap saw significant losses this week. At the time of writing, the rebase token economy is worth more than $3.2 billion, but has lost more than 10% of its value in the past 24 hours. The largest rebase token economies such as Wonderland, Olympus and Redacted Cartel are down between 36% and 55% in the last week.
Top 3 Rebase Token Protocols Lost Billions in Value Last Week, Wonderland Down 87% Since Highs
On the first day of November 2021, Bitcoin.com News got deep dive Access to the Olympus DAO and Reserve-backed assets called ohm. Olympus is a decentralized finance (defi) project, described as a rebase token, and numerous Olympus forks have been born since Olympus was founded.
Essentially, the rebase token protocol adjusts the token supply periodically or when prices fluctuate.Olympus used to be the biggest Rebase Token Project, But the Wonderland project is now the largest market cap at $1.1 billion. The market valuation of all OHMs in circulation today is $945 million.
The past week has not been a good time for rebase token investors to discuss losses and liquidate visible litter All over social media. Also, on January 17, 2022, The report shows Wonderland’s token TIME is trade below Treasury limits.a user claim He lost more than 2,000 times or about $9.5 million in liquidation.
“This is what happens when people like the ‘it can’t be less than supportive’ meta-narrative,” one user respond For those who lost 2,000 TIME. “I lost 38 wmemo (roughly $2.5 million) well below the support price. Feel your pain bro,” another Wonderland trader reply.
In the past two weeks, Wonderland (time) Having fallen 57.9%, the crypto asset is down 87.1% from its all-time high on November 7, 2021. Additionally, the project’s other native asset, Wonderland Memory (WMEMO), has fallen 25.6% over the past seven days.
According to Wonderland developers, the team did take advantage of token buybacks. Wonderland CFO 0xsifu insist:
Millions of dollars were again used to buy below our support price, bringing the price back to our intrinsic value. Just a reminder: Unlike most of the others: Wonderland is purchased at a support price.
Olympus down 92% since ATH, Ampleforth up 63%
Wonderland fell 36.2% last week, Olympus (OHM) fell 43.2%, Editing Cartel (BTRFLY) The dollar fell 55.3% in value.
Since the cryptoasset’s all-time high on April 25, 2021, nine months ago, OHM is down more than 92% at $1,415 per OHM.Although the first three rebasing tokens lost considerable value, rebasing tokens Ampleforth (AMPL) Shares have risen 63.5% over the past seven days. However, Klima dao (KLIMA) is down 30.8%, hector dao (HEC) is down 42.9% and rebase token Rome (ROME) is down 54.4% for the week.
While rebase token sampleforth had a good week, rebase tokens spartacus (SPA) and Templedao (TEMPLE) rose between 11% and 25%, posting double-digit gains. Rebasing tokens gravitoken (GRV), 8ight Finance (EIGHT) and greenmoon (GRM) also managed to avoid losses over the past week. The biggest rebase token losers of the week include invictus (IN), redacted cartel (BTRFLY), rome (ROME), vesq (VSQ) and papa dao (PAPA).
What do you think of the huge loss-making rebase token project that happened last week? Let us know what you think about this topic in the comments section below.
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