Top 25 Rebase Cryptocurrencies for April 2024

Rebase is a cryptocurrency mechanism used by certain types of algorithmic stablecoins to achieve price stability. It adjusts the circulating supply of the token automatically in response to changes in its market price relative to a target price or peg, such as $1 USD. This is done by proportionally increasing or decreasing the number of tokens held in users' wallets without the need for transactions. For example, if the price is too high, more tokens are distributed to holders, increasing supply and aiming to reduce the price. Conversely, if the price is too low, tokens are removed from circulation with the intent of raising their value. Real-world examples include Ampleforth (AMPL) and Basecoin (now known as Basis), which have implemented rebase mechanisms in an attempt to maintain their pegs and provide a stable medium of exchange or store of value within the volatile crypto market.