FABLES Market Cap Falls 59.5% From Peak as Fables Opens Claims

Fables opened claims for points and redemption for PROLOGUE on Wednesday, Oct. 21, as its newly launched Fables (FABLES) token's market capitalization stood at $7.56 million, 59.51% below its post-launch peak.

Fables is a decentralized exchange in the Robinhood Chain ecosystem. The FABLES/USDG pool opened for trading alongside the claim and redemption functions. That put trading and token-conversion access live together.

FABLES' market capitalization peaked at $18.67 million after launch, a difference of $11.11 million from the $7.56 million level. These figures describe market capitalization, not token price.

Fables previously said holders could redeem at least one FABLES for every 40 PROLOGUE. PROLOGUE's market capitalization stood at $1.38 million, with a 57.23% decline over the prior 24 hours.

At those levels, PROLOGUE's market capitalization was about 18% of FABLES' valuation. The two figures compare the newly launched token with the asset used in its redemption mechanism. FABLES' decline is measured from its post-launch peak; PROLOGUE's is measured over 24 hours.