Authored by Nan Zhi, Odaily Planet Daily
On June 7th, BTC started to decline after almost hitting the $72,000 mark, dropping continuously. There was only one rebound on June 12th, rising from $66,000 to $70,000 before falling again.
During the overall market downturn, it is often possible to test which tokens have the most “bottom-fishing” value or are the most resilient, including those that are the most resistant to declines and rebound the fastest. Odaily Planet Daily divided the market trends of nearly ten days into the first decline on June 7th, the second decline on June 11th, the first rebound on June 12th, and the overall market trend of the past ten days. They analyzed and organized data on 252 tokens on the Binance spot trading platform (excluding stablecoins and gold synthetic tokens) in terms of the two aspects mentioned above, reaching the following conclusions:
June 7th, the first decline
In the days leading up to June 7th, only BTC was rising while most tokens had already fallen, albeit at different times. Therefore, this section starts calculating from 8:00 on June 7th when BTC began to decline significantly until 8:00 on June 8th.
Among the most resilient tokens, “Justin Sun’s tokens” continued to dominate several positions, with HIGH, BTC, ETH, and a few other tokens performing well during this period.
Most of the tokens on the list of biggest decline were familiar tokens, which will be closely monitored for any potential rebounds.
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June 11th, the second decline
After three days of sideways movement, Bitcoin led all tokens in a new round of declines. The time frame for this section is from 0:00 on June 11th to 0:00 on June 12th.
It can be observed that Justin Sun’s tokens still dominated the list of resilient tokens, with HIGH, which had the smallest decline in the first round, now leading the list of declines, indicating that it may not be a good buy in the short term. Additionally, all tokens on the list of biggest declines saw changes, suggesting that at least 20 tokens have become weaker performers.
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June 12th, the first rebound
Following the second day of declines, Bitcoin led the market in a rebound from 0:00 on June 12th to 0:00 on June 13th.
LPT proved itself through the rebound, and other tokens such as NOT and UNI also made it to both the list of declines and rebounds.
On the other hand, HIGH, PEOPLE, and OM continued their weak performance, experiencing the biggest declines and the smallest rebounds.
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Summary of the ten-day market trends
Based on the lowest price in the past ten days calculated from 8:00 on June 7th, the maximum decline was determined. The rebound rate was calculated based on the lowest price and the closing price at 14:00 today. The data is as follows.
HIGH emerged as the weakest token in this round, with others like AEVO, CKB, and SATS consistently appearing on the list of biggest declines.
NOT, CRV, and UNI showed strong resilience, but apart from BTC, there were no visible consistently strong tokens.
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