OlympusDAO’s slide continues: OHM down 90% from all-time high (via OsatoNomayo)
The price of OlympusDAO’s native token OHM has fallen to lows last seen in May 2021.OHM, the native token of the decentralized finance project OlympusDAO, is down more than 90% from its April 2021 all-time high of $1,415.26, according to Coingecko. As of the time of writing, OHM has lost 12% over the last 24-hours and is at its lowest price level since May 2021.
These discounted OHM tokens are called bonds and users often stake their bonds on the DAO itself or use them as collateral on Fuse, an interest rate market powered by yield-generating protocol Rari Capital. This New Year price slump, while in keeping with the losses in the broader crypto market, has also been attributed to massive profit-taking from major OHM holders. According to data from Etherscan, one OHM holderover 82,500 OHM tokens worth more than $11 million at the time. The trade happened on SushiSwap with the OHM tokens traded for the stablecoin DAI.
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