Bitcoin

Coinbase Bundle performance tracker reveals the sad state of the crypto market


The chart, featured quite prominently on Coinbase's site and noticed recently by Dogecoin creator Jackson Palmer, tracks the performance of an imaginary $100 investment in Coinbase Bundle, a sort of fund that tracks the prices of the top 5 cryptocurrencies by market cap, listed on Coinbase: Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ethereum Classic.


You could, however, set the chart to "all," which starts the timeline at Jan. 4, 2013, and turns the imaginary $100 into $12,530.18.


In any case, kudos to Coinbase for still having the courage to keep that chart online.


As for Palmer, his comments from January , at the height of the crypto bubble, feel prescient now that the prices have plummeted.


"While it's great to see mainstream enthusiasm for cryptocurrency, I think the high valuations and inflated market caps serve more to distract from the real goal of these projects than anything," he wrote at the time.


"My one hope is that when that does happen and people lose large sums of money, the negativity in the market doesn't stifle technological innovation or interest in digital currency from the mainstream."






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