Two years ago, we used to think that the crypto space will move from blockchain trials and testnets to real-world use cases and flawless mainnets. But the sad reality is that most projects implementing mainnets have seen negative returns.
Token Prices Remain Unaffected
While mainnets represent the natural direction of the blockchain market evolution, most of the projects implementing proprietary DLTs have seen their new tokens losing value.
Crypto data services firm Messari tracks blockchain companies that launched mainnets. Data shows that these companies have seen their token prices demonstrating negative year-to-date returns despite the fact that Bitcoin has gained over 205% during the same period.
Mainnets have usually represented a significant price catalyst and a great bullish sign. However, most of tokens that moved on mainnets have experienced negative returns, especially in BTC terms.
Mainnet launches are often see as positive catalysts for price, but that hasn’t been the case in 2019.
Projects that launched a mainnet…