Token Rebrands May Only Be Effective Once in Crypto Market
Token rebranding in the crypto market serves three main purposes:
- Refreshes stale market positioning.
- Creates promotional buzz.
- Resets price charts, erasing past trading history.
Recent high-profile token rebrands include:
- merit circle (MC) to BEAM
- bitdao (BIT) to MANTLE (MNT)
- matic to POL
- makerdao (MKR) to SKY
- fantom (FTM) to S
Key observations from these cases:
- BEAM is up over 70% since its rebrand, but down 70% overall.
- MNT shows a 56% increase post-rebrand but has lost 50% since the initial launch.
- POL has decreased by 56% since migration, with lifetime returns around 5,000%.
- S reflects similar life cycle trends as POL.
- SKY is up about 4% since rebranding, with a 50% gain overall.
The effectiveness of rebranding may vary, highlighting the potential for reinvention within the market.