According to CoinGecko, the MDAO token entered the open market at the beginning of March 2022 with a price of $0.29. During the week after that event, the token’s value fell by 20%, dropping to $0.24. This dynamic is classic for most new project tokens entering the market.
But even at this level, there was a slight accumulation of assets — many community members began to actively buy MDAO, believing that they entered at a good price. And they were right because the asset’s value almost doubled by the end of March, reaching $0.44. For a long time, this level became the token’s ATH — a historical maximum.
Later, the price of MDAO moved to the phase of growth correction. Eventually, the levels of $0.19 — $0.20 became the most important for the token of the MarsDAO ecosystem, and its fall stopped at this level; the price was confidently held near these values. It seemed that the asset had reached its bottom, but soon Terra collapsed: its Stablecoin UST and Luna token rapidly lost value, which subsequently led to a series of bankruptcies of major companies and funds, among them Celsius and 3 Arrow Capital.
These events collapsed the entire cryptocurrency market, with many projects updating their local lows. Many of these assets fell 3 to 4 times. MDAO suffered the same fate, and the token updated its low at $0.06. At the same time, during the local uptrend, MDAO grew by 250% at once to $0.16. The token demonstrated a strong upward trend and outperformed the majority of other, larger projects.
After that, there was a slight market correction, and the MDAO price reached $0.09 to $0.11, 50% higher than its minimum. Compared to the market as a whole, this is also much stronger as many projects continued to update their lows through November 2022.
The $0.09 to $0.11 range defined the MarsDAO ecosystem. The price was in this range for almost 3 months, and the asset was consolidating. Many investors willingly bought MDAO tokens, judging by the activity in the blockchain, which can be tracked through BSC Scan.
At the end of October, MDAO went into an active upward phase. This was primarily due to the relaunch of some products within the ecosystem and to many partnerships and integrations in challenging market times. All of this has been building positive sentiment among the community and investors over the past 3 months, and the subsequent growth was a natural outcome.
The MDAO token value grew from $0.11 to $0.54 in just a couple of weeks. Thus, the growth in the last few weeks was as much as 500%. No other sustainable crypto projects showed such an increase during this time, and the exceptions are some scam cryptocurrencies created solely for manipulation and profiteering.
Thus, the MDAO token overtakes the market in the current phase, and the situation may continue in the future, as such sharp growth has attracted the attention of a wider audience, which began to show interest in the products and the asset in particular.
As a result, MDAO’s capitalization increased from $10 million to $50 million, and trading volume increased even more — approximately 10 to 15 times.
On behalf of the founders and the entire MarsDAO team, thank you to the holders and community members! We’re working to improve our products every day, and we’re not stopping there. Thank you for your trust!
