Analysis of currency performance in this round of plummeting: nearly 60% of the token prices have halved, and the husband chain is the most resistant

Author: Frank, PANews

Recently, the crypto market has experienced a strong correction. The entire market is filled with depression caused by downward sentiment. However, in the process of market development, ups and downs are the norm, and in the process of the overall market downturn, it is a touchstone for many projects. Which token prices remain strong during this process? Which tokens are going to collapse at the drop of a hat? We did some analysis on the recent token market performance to unveil the changes in the market.

Nearly 60% of token prices have halved, and blockchain games have become the hardest hit area

According to OKX perpetual trading pair data, PANews lists the highest points and lowest points in the last 30 days, and calculates the ones with the largest decline in the last 30 days. The coin, in addition, will low to the July 8 rebound price range to reflect the strength of the coin’s rebound.

Among the 20 tokens with the largest decline, the largest decline was GPT. The largest decline within 30 days reached more than 80%, and GPT became the only AI project in the top 20 declines.

In addition, chain travel has become the most frequent track. Among the top 20 decliners, there are 4 game-related projects including BLOCK, BIGTIME, ACE, and ULTI, with an average decline of 68.5%, and nearly 70% of their prices evaporated.

Surprisingly, although the MEME coin is known for its high volatility, only one MEME coin was included in the list of the tokens with the largest decline. FOXY is not yet a very mainstream MEME.

However, in this round of falling market, most of the tokens are bleeding. Among the 194 tokens counted, 110 tokens have fallen by more than 50% within 30 days, accounting for nearly 60%.

Layer1 is more resilient, and old currencies are more stable?

In the top 20 rankings with the smallest decline, the governance tokens of each Layer 1 public chain still show relatively stronger stability. Among them, TRX, TON, BTC, ETH, SOL, XRP, DOT and other tokens have seen relatively smaller declines. These tokens have existed for a longer time and have a larger market value. Perhaps this is why they have maintained a better stability.

In addition, the smaller declines of NFT and JST at the top of the list are not due to strong currency prices, but because these two tokens have already fallen before and have recently entered a relatively stable price range. Judging from the rebound, the rebound of these two tokens is also relatively weak.

In addition, in the overall data, only 27 tokens out of 194 tokens fell by less than 40%, and these tokens with smaller declines were almost all tokens that were issued for more than 3 years.

NOT rebounded like a charm, will the rune circuit make waves again?

If the decline is inevitable, then the rebound after the decline can better show the market’s confidence and expectations for the token. From this point of view, NOT is undoubtedly the best-performing token currently. In the past 30 days, NOT has fallen by up to 59% from the high, but its recent rebound from the low has reached 63.6%. The strength of NOT has also allowed more players to see the potential of TON. Recently, the click-on-screen mini-games in the TON ecosystem have once again experienced rapid growth.

In addition, LayerZero’s token has just been launched not long ago. Although it has caught up with this sharp correction, judging from market performance, the rebound of token ZRO is also relatively strong, rebounding 55% from the low.

In addition, the rebound effect of Bitcoin ecosystem tokens in recent days is also impressive. SATS rebounded by 46.6%. I wonder if Rune Track will continue this trend.

Overall, among the 195 tokens statistically calculated by PANews, more than half of the tokens fell by more than 50%. Except for the stable currency USDC, only three tokens fell by less than 20%. The largest declines of BTC and ETH, which have the highest market value, were 26% and 27% respectively. In comparison, the declines were smaller.

In addition, according to data from Coingecko, the worst-performing tracks in the past 7 days are re-pledge governance tokens, cat-themed MEME, and cross-chain communication protocols.

Since the results of this analysis are limited to tokens that have been listed on mainstream exchanges, they fail to cover some tokens traded on the chain. The content of this article is only to provide industry information and is not intended as investment advice.

The above is the detailed content of Analysis of currency performance in this round of plummeting: nearly 60% of the token prices have halved, and the husband chain is the most resistant. For more information, please follow other related articles on the PHP Chinese website!