Analyzing the 85 Sharp Decline Data: Which Coins Rebounded Most Rapidly? Which Sectors Are Weakest?
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Analyzing the 85 Sharp Decline Data: Which Coins Rebounded Most Rapidly? Which Sectors Are Weakest?
LST, AI, and Meme sectors declined the most. SATS, TAO, RENDER, PEPE, PENDLE showed the highest elasticity.
Navigating Web3 tides with focused insightsAuthor: Nan Zhi, Odaily Planet Daily
Yesterday, the crypto market plunged alongside global markets in a panic-driven spiral. BTC dropped from above $60,000 to a low of $49,000, while ETH fell from above $3,000 to around $2,100. Just as widespread fears emerged that U.S. stocks would trigger circuit breakers at market open, a strong reversal began from the bottom, leading to a rapid rebound in the crypto market.
Dividing the market into two phases—the sharp decline from the evening of August 4 to the afternoon of yesterday, followed by the recovery period starting after U.S. equity markets opened until this morning—we examine which tokens suffered the steepest losses and which bounced back fastest. In this article, Odaily analyzes data from 249 tokens on Binance’s spot trading section (excluding stablecoins, gold-backed stablecoin PAXG, and ASI) across these two dimensions, with conclusions summarized below:
The Plunge Phase
Using 21:00 on August 4 as the baseline (taking the opening price as the starting point for decline), and ending at 15:00 on August 5—when Bitcoin hit its intraday low near $49,000—we measure the lowest price within this window as the trough of the decline. The data is presented in the table below.
As shown, the hardest-hit sectors included LST, AI, and Meme tokens, specifically:
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LST: PENDLE, SSV, LDO
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AI: TAO, NFP, RENDER (and some tokens not strictly aligned with the AI narrative)
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Meme: WIF, PEPE (and SATS, which only partially fits the meme category)
Regarding relatively resilient tokens during the downturn, previous analyses only covered the top ten, consistently featuring Sun Yuchen-related tokens. This time, we expanded the list to include the top twenty; however, most entries are small-cap tokens with limited practical reference value.
The Rebound Begins
Using 21:00 on August 5 as the baseline (taking the opening price as the starting point for gains) and ending at 09:00 on August 6—using the highest intraday price as the peak—we present the rebound data in the table below.
In this rebound phase, no clear sector patterns emerge among the strongest or weakest performers. However, several tokens that previously appeared in the decline rankings have reappeared here, indicating strong price elasticity. These tokens warrant attention should another downturn occur. They include:
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SATS (Bitcoin-related, partial Meme attributes)
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TAO (AI)
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GNO (DeFi)
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RIF (Bitcoin-related)
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RENDER (AI)
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PEPE (Meme)
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PENDLE (LST, LRT narratives)
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