Timeline of the Decline
October 2021
$9.18
All-Time High - Peak euphoria
January 2022
$4.00
NFT boom fails to materialize on Tezos
June 2022
$1.30
Bear market, developer exodus
Current
$0.70
Post-collapse trading
What Went Wrong
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Marketing Over Substance
Tezos spent heavily on F1 and Manchester United sponsorships but failed to attract developers or users.
-
Slow Ecosystem Growth
Despite early mover advantage in Proof of Stake, Tezos failed to build a compelling DeFi or NFT ecosystem.
-
Competition
Ethereum's merge, Solana's speed, and Cosmos's modularity made Tezos's value proposition unclear.