It has been seven weeks since we started our experiment with different rebase tokens and we had never ever imagined that it would be as catastrophic as it has turned out to be (so far). If we look at the overall stats, the best performing token is HectorDAO, and including all the rebase awards, the investment is “only” down 51% in total. And yes, that is the BEST performing token. However, if we narrow it down and take a look at the last seven days, there is actually ONE token that managed to end up in plus.
The last week has been brutal, once again. This time it has been hardest on the big and popular tokens, just like the previous week which we decided to call “the fall of the big.” Little did we know one week ago, that this week would happen to do exactly the same once again.
The biggest fall came for Wonderland which once again suffered from major liquidation (as the buybacks didn’t happen as expected, and thus, many were liquidated). Daniele Sesta has often said that he is taking it too much on himself (the sorrows of the frogs), and this time, he is definitely suffering together with the rest of the frogs.
But, if we forget about Wonderland for a minute, let us rather take a look at the performances of the different tokens in the last seven days.
Rebase token performance between January 19th and January 26th
Let us take a look at the chart showing the increase/decrease of the different tokens in percentage in the last seven days.
The ONLY protocol ending up in a plus in the last seven days was FortressDAO. This has actually been a quite stable protocol moving around $4 for a couple of weeks. GyroMoney has also been acting like a quite stable currency recently, and that can be seen in the fact that it only dropped 5% in the last seven days.
In fact, looking at these numbers and percentages, it actually seems as if the “big and famous” rebase tokens have been suffering way more than the smaller and not-so-featured currencies (like GYRO, FORT, and PAPA).
If we look at the large picture, HectorDAO is still the best performing token, meaning that it has “only” dropped 51% since our initial investment on December 8th. This protocol also launched HectorBank a few days ago. So even though the price is dropping, they are clearly working hard.
All the protocols are in big losses, and the question we all ask ourselves is where will it go from here? Many are selling right now, seeing that the prices just keep on falling. Is that the smart thing to do, or is now the time to hold and then the prices will once again go back up?
Selling TIME at $3,000 – NGMI
I remember seeing a tweet a few weeks ago in which someone laughed at someone who sold TIME at $3,000 (after it hit the price and then jumped back to $4500 afterward). They were kind of making fun of the people who were stupid enough to sell TIME at $3000. Who is laughing now? Were they stupid? Looking at the market since then, they could buy more than 4 TIME tokens for the price they sold 1 token at a few weeks ago.
But, will the people who sell their time at $750 feel stupid doing so a few weeks for now? Or will they be happy to at least have saved a part of their investment?
What do you expect in the coming weeks? Write a comment and let us know!