CONCLUSION

#TotemOS #WE3 #Builttogether #Blockchain

A brief look at 6 of the top crypto projects and how they triumphantly pushed through to new ATHs

It is no secret that cryptocurrency is a new frontier, akin to the wild west. In this unregulated industry, anything goes. This naturally attracts bad actors and those looking to use crypto as a “get rich quick” scheme. An overwhelming majority of people are just looking for that next “pump” coin to realize 100x gains overnight, and if it doesn’t happen, your project must either be dead or a rugpull. This naturally makes it difficult for serious and promising projects to start off on the right foot, when most are approaching the project from this perspective. Then the FUDsters attack from all sides spreading their glorious FUD (fear, uncertainty & doubt) on everyone.

In this article, we wanted to highlight some very solid and battle-tested crypto projects that have stood the test of time and made it all the way into the top 100 global crypto projects, and compare them to our $CTZN token. All of these projects have multi-billion dollar marketcaps, and all of these projects have lived through devastating bear markets (sometimes more than one!). We also want to point out how historically speaking, price action has mostly been tied to the news & announcements of a project, rather than the validity of the project itself. Over time we believe this will change, but until then, FUDers be FUD’n.

First up on the list is Ethereum. Ethereum is the 2nd largest cryptocurrency by market cap, bested only by Bitcoin itself. Likely a household name by now in those households that are currently crypto-savvy, many people do not fully understand Ethereum’s price history and what it had to endure to get to where it is today.

The Ethereum token was launched in August 2014. Approximately 50 million $ETH tokens were sold at an initial price of $0.31 per coin during the ICO, raising over $16 million for the project. From the official launch date in 2014 to March 2017, the token’s price remained range-bound between $0.70 and $21, which is admittedly a fairly large range, but far from what the price is today (imagine buying one ETH for $21!).

During the bull market in May 2017, Ethereum’s price finally went above $100 for the first time. By January 2018, ETH’s price peaked at $1,418 before it fell sharply. It took another three years for ETH to retest its previous all-time high. Between February and May 2021, ETH’s price more than tripled to set a new ATH (all-time-high) of $4,379.

Next we will look at Solana. Solana had an unbelievable 2021, catapulting it into the top 10 crypto projects by market cap and nearly breaking social media. But what did it have to go through to get there?

Solana’s $SOL token was launched in April 2019 at an initial ICO price of $0.04 (anyone else nearly fainting at these ICO prices? 😱). During the first few years of their build phase, the price action remained fairly dormant.

It wasn’t until February 2021 that we started to see some movement, after FTX & Alameida Research Group CEO, Sam Bankman-Fried, announced he would be building his Serum DEX on top of Solana. Word got out that Solana was the fastest and cheapest blockchain to date, and after announcing that Solana was getting into NFTs and launching its own wormhole, the price took off, reaching its ATH of $259.96 in November 2021. At the time of writing, SOL’s price is currently sitting around $102. That’s a 60% retracement from its ATH.

Polygon Network is a layer 2 blockchain project built on top of the Ethereum blockchain. It was created and designed to make Ethereum faster & cheaper, as it is rather expensive to use the Ethereum blockchain. The $MATIC token was initially launched by the Matic Network in April 2019, at an initial IEO price of $0.00263. The token endured a grueling bear market for nearly two years until the Matic team had a brilliant idea: rebrand the project.

Three months after the project underwent a major rebranding from Matic Network to Polygon Network, the MATIC token price hit an ATH of $2.40 (May 2021). Prior to this massive bull run, which started in February 2021 and saw the token rise by more than 7,000%, MATIC had remained under $0.04 for those first two years.

One project that has definitely seen its fair share of FUD is Fantom. Fantom is a blockchain project that initially launched its $FTM token in June 2018, at an ICO price of $0.04. What preceded this event was astounding. Fantom’s price quickly fell below $0.04 and remained there until January 2021…that’s 2 ½ years BELOW the ICO price! Needless to say, the FUDders had fun with this one. Incredibly, once Andre Cronje, founder of yearn.finance & technical advisor to the Fantom Foundation, started shilling Fantom on Twitter, the price started to rally. In October 2021, Fantom hit its ATH of $3.46, and has since seen a 65% correction.

Decentraland is perhaps one of the most well known metaverse projects out right now. It launched its $MANA token in August 2017. The token traded sideways for well over 2 years, only experiencing a brief “pump & dump” when it was listed on the major exchanges.

After this, MANA’s price once again stagnated between $0.02 and $0.17 for about three years until Grayscale Investments announced the launch of its Decentraland Trust. Shortly after this announcement, MANA hit its then all-time high of $1.63 in April 2021. Another massive rally instigated by the news.

Axie Infinity is without a doubt the most popular blockchain game available. They launched their $AXS token on Nov. 4, 2020 at an ICO price of $0.01. Unlike the other projects, however, Axie did not endure a long, grueling bear market. Instead, the team had some clever marketing tactics that paid off astronomically.

The AXS price rose rapidly in the summer of 2021 and surged again at the start of October 2021, when Axie Infinity’s creators announced that they had distributed 800,000 AXS tokens to users who had played the game before Oct. 26, 2020. Those tokens were worth more than $60 million at the time.

Also in early October 2021, Sky Mavis (the creators of Axie) announced they had raised $152 million in a Series B funding round that was led by venture capital firm Andreessen Horowitz at a valuation of $3 billion. The company also introduced a staking function for AXS that gave users the ability to earn yield and gain governance voting rights by locking up their tokens.

As of January 2022, the all-time high AXS price was $164.90, recorded in early November 2021. It started 2021 at less than $1.

Hopefully by now it is clear that real projects take time to build & grow. In this brand new and ever-changing landscape, early price action is more often than not a distraction. Token prices are easily influenced by positive news & partnerships, and even more so by FUD, as no one truly knows how to price this market yet.

We are not sharing any of this information with you to be pretentious — we are simply showing you historical data and demonstrating how past & current token prices do not accurately reflect a project’s true value.

We are here. We are building. We will not stop until our visions, goals & dreams are realized and manifested.

Although price pumps can be very exciting, bear markets are completely normal. The cryptocurrency industry is still in its infancy and we must allow time for it to mature. Utility will stand the test of time, and we are working hard to ensure the Totem ecosystem provides you with everything you need to safely and confidently traverse this new frontier that is web3.

Related posts:

Since the found of DeHorizon, we have been committed to building an autonomous and co-created metaverse game ecosystem. With the accompaniment of each one of you, we have achieved a lot! Our DEVT…

As developers and designers working to help government agencies modernize their IT systems and websites, we are constantly aware of the far-reaching impact of our work. Many people stand to benefit…

While many of us are determined to modify jobs, getting hunted by the recruiters becomes more and tougher . Here are a couple of tips to stay in mind if you’re considering employment change in 2020…