We have had some quite positive weeks recently with growth in value for most of the rebase tokens. This week the trend is continuing, and even though HectorFinance (-3%) and OlympusDAO (-7%) produced negative numbers in the last seven days, we still consider this to be consolidating while still being a part of an upward trend. The best performers between March 30th and April 6th were MagnetDAO, SpartacusDAO, and REDACTED.
It is quite amusing to see that MagnetDAO is the best performing token in the last seven days. Why? Because this is a protocol that has called the rebase-DAO thing a failure and that is why they are actually aiming at moving away from the rebase model at the moment. The creators of MagnetDAO have actually created another protocol that is way more successful at the moment, Vector Finance, a tool that is used to get giant interest on your stable coins, being a part of the so-called Platypus Wars.
Just like Platypus Finance users stake PTP and acquire vePTP, MagnetDAO wants to use a similar model for their MAG token, which will then produce veMAG instead of using the current model. And in the midst of this, the protocol has actually experienced a very positive price increase, making it the best performer in the first days of April in 2022.
SpartacusDAO has also had a positive increase in the last seven days. It is harder to understand this looking at their Twitter which is mostly dead and with no communication or tweets at all in the last months.
The positive growth for REDACTED (BTRFLY) for a second week in a row is way easier to understand as they are working hard on the project, they are bringing in new partnerships (like the most recent one with TERRA), so this isn’t really a protocol we should forget about.
What are your thoughts at the moment?
Looking at the chart above, and also looking at the chart below, what are your thoughts about the rebase tokens? Are you still investing? Which ones do you believe will stay around and generate profit and passive income for investors one year from now and more?
This week we will also include a new chart that will show you the progress of the different tokens every week since the start of the experiment. Some of the tokens entered the experiment later than the others, but the chart will still give you a feeling about how they have all been progressing from week to week since they entered the experiment.
What do you think as you look at the different charts? Are you bullish? Which tokens are you bullish about? We would love to hear some of your thoughts and comments.
If you can, please share the results from our experiment on Twitter and other social media platforms, and do not forget to follow us on Twitter yourself!