OHM, TIME, KLIMA Down More Than 98% From All-Time Highs – Defi Bitcoin News - BitcoinEthereumNews.com
About four months ago, four of the top rebase tokens by market valuation were worth close to $8 billion in USD value and today, the entire lot of rebase tokens collectively are valued at $1.14 billion. The largest rebase crypto by market capitalization, olympus (OHM), had a $4.3 billion market valuation last November, but after shedding 98.1% in USD value, OHMs market capitalization is now $438 million. Over $7 Billion Exited the Rebase Token Economy During the Last 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 worked. Three weeks later, OHMs overall market capitalization tapped an all-time high (ATH) at $4.35 billion on November 23. OHM already recorded an all-time price high months earlier in April, when it reached a high of $1,415 per coin on the 25th. Since that day, olympus (OHM) has shed 98.1% in value against the U.S. dollar. 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 capitalization jump over $2 billion three days before OHM‘s market cap ATH. While TIME’s market cap reached an ATH on