This is a segment from the Empire newsletter. To read full editions, <\/em>subscribe<\/em><\/a>.<\/em><\/p>\n Crypto moves at breakneck speed.\u00a0<\/p>\n One day, you could recite the top coins by heart, maybe even in order. By the next, there\u2019s a handful that you don\u2019t even recognize.<\/p>\n Some might be entirely new, like HYPE, TRUMP or USDE. These days, there\u2019s an increasing chance that they could be old coins rebranded.<\/p>\n Putting aside any technical reasons for projects to switch tickers \u2014 perhaps alongside with the launch of a new chain \u2014 token rebrands serve three key functions:<\/p>\n There have been at least five examples of high-profile token rebrands in recent memory: merit circle (MC) became BEAM; bitdao (BIT) became MANTLE (MNT); matic became POL; makerdao (MKR) became sky (SKY) and fantom (FTM) became sonic (S).<\/p>\n Many of these and other token migrations are still ongoing \u2014 meaning the old chart lives on under the previous ticker, separate from the new one.<\/p>\n And whether or not resetting the chart was a primary intention for the projects that have rebranded, it\u2019s still possible to stitch together the old chart with the new one, just for fun.<\/p>\n Take the MC\/BEAM chart above. Anyone who\u2019d only checked the post-rebrand BEAM chart would see that BEAM is still up more than 70% on its initial price from October 2023.\u00a0<\/p>\n When in actuality, the coin\u2019s down<\/em> over 70% across its entire trade history.<\/p>\n MNT is another such case. It\u2019s technically up 56% since the Bybit-launched investment DAO converted itself into an Ethereum layer-2 in 2023, but it lost 50% of its value since BIT was first launched two years earlier.<\/p>\n The opposite is true of MATIC\/POL \u2014 POL has shed 56% of its value since it started its token migration in late 2023 but its combined total lifetime returns are nearly 5,000%.<\/p>\n That\u2019s similar to what FTM\/S has posted over its entire lifespan. The Fantom team is now dedicated to a newly launched chain called Sonic, with FTM tokens upgradeable to S as of January.<\/p>\n Meanwhile, MKR\/SKY is still positive by around half over its entire combined history, while only ahead by 4% since the rebrand.<\/p>\n Whether prices have gone up, down or sideways after rebrands, we could probably all learn a little something from each of these cases: when in doubt, why not just reinvent yourself and keep it moving.\u00a0<\/p>\n The kicker is that it might only work once.<\/p>\n Get the news in your inbox. Explore Blockworks newsletters:<\/strong><\/p>\n This is a segment from the Empire newsletter. To read full editions, subscribe. Crypto moves at breakneck speed.\u00a0 One day, you could recite the top coins by heart, maybe even in order. By the next, there\u2019s a handful that you don\u2019t even recognize. Some might be entirely new, like HYPE, TRUMP or USDE. These days, […]<\/p>\n","protected":false},"author":2,"featured_media":375716,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-375715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/375715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=375715"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/375715\/revisions"}],"predecessor-version":[{"id":375717,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/375715\/revisions\/375717"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/375716"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=375715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=375715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=375715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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