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 downward, 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? PANews 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 and lowest points in the past 30 days, and calculates the currency with the largest decline in the past 30 days. In addition, the low to the rebound price range on July 8 is calculated. Reflects the strength of the token’s rebound.
Among the 20 tokens with the largest decline, the largest decline was $GPT, with the largest decline of more than 80% within 30 days, 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 four game-related projects including $BLOCK, $BIGTIME, $ACE, and $ULTI. The average decline reached 68.5%, and the price evaporated by nearly 70%. Surprisingly, although meme coins are known for their high volatility, only one meme coin was included in the list of the most declining coins, and $FOXY is not yet a very mainstream meme.
However, in this round of decline, most of the tokens have been bleeding. Among the 194 tokens counted, 110 tokens have fallen by more than 50% within 30 days, accounting for nearly 60%.
Source: PANews
Layer 1 is more resilient, and old currencies are more stable?
Among 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, Bitcoin, Ethereum, $SOL, $XRP, $DOT and other tokens have relatively smaller declines. These tokens have existed for a longer time and have a larger market value. Perhaps As a result, better stability is maintained. 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.
Source: PANews
$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 coin right now. In the last 30 days, $NOT has fallen as much as 59% from its highs, but its recent rebound from its lows has been 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 ecology have once again experienced rapid growth. In addition, LayerZero’s token has just been launched. Although it has caught up with this sharp correction, judging from market performance, the rebound of the 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 46.6%. I wonder if Rune Track will continue this momentum.
Source: PANews
Overall, among the 195 tokens 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 Bitcoin and Ethereum, which have the highest market capitalization, were 26% and 27% respectively, and the declines were smaller in comparison. In addition, according to data from CoinGecko, the worst-performing tracks in the past seven days are re-pledged governance tokens, cat-themed memes, and cross-chain communication protocols.
Source: PANews
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. In the future, PANews will continue to pay attention to market trends and provide more comprehensive analysis and reports. The content of this article is only to provide industry information and does not serve as investment advice.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
This article is reproduced with permission from: "PANews"
Original author: Frank, PANews
