Obyte failed to be profitable once the team stopped the initial free airdrop method. Since then, the most powerful and comprehensive DAG protocol in the cryptocurrency market has lost around 97% of its ATH value.
Nevertheless, the team continues to develop the protocol and has impressively extended its functionality with concepts such as sovereign identity, bounded stablecoins and more recently with liquidity pools and bridges with Ethereum, Binance and Polygon. Even an NFT platform has been released recently.
Several impressive rebounds occured in 2021 but each time it falls.
Several impressive rebounds occurred place in 2021 but each time the price fell back to the initial level. In a way, every fall was normal and predictable. Obyte is a third type cryptocurrency protocol that requires transactions to gain value, while decentralized blockchains (first type) have to spend electricity and centralized blockchains (second type) need to grow their user base.
So, could Obyte finally get the shy traction to get more transactions and see its price increase sustainably?
Either way, DAGs are the only sustainable option for cryptocurrencies and Obyte is obviously the real contender to challenge the Bitcoin protocol as king of cryptocurrencies although one can easily doubt that when looking at its performance.
Nevertheless, the team continues to develop the protocol and has impressively extended its functionality with concepts such as sovereign identity, bounded stablecoins and more recently with liquidity pools and bridges with Ethereum, Binance and Polygon. Even an NFT platform has been released recently.
Several impressive rebounds occured in 2021 but each time it falls.
Several impressive rebounds occurred place in 2021 but each time the price fell back to the initial level. In a way, every fall was normal and predictable. Obyte is a third type cryptocurrency protocol that requires transactions to gain value, while decentralized blockchains (first type) have to spend electricity and centralized blockchains (second type) need to grow their user base.
So, could Obyte finally get the shy traction to get more transactions and see its price increase sustainably?
Either way, DAGs are the only sustainable option for cryptocurrencies and Obyte is obviously the real contender to challenge the Bitcoin protocol as king of cryptocurrencies although one can easily doubt that when looking at its performance.