BREAKING NEWS – CoW Protocol (COW) has experienced a severe price collapse, plunging 24.04% to $0.21157 in the past 24 hours as of February 15, 2026, according to real-time market data.
The decentralized trading protocol token hit a 24-hour low of $0.209231 after reaching a high of $0.278546, representing a dramatic intraday swing of over 33%. The sharp decline has wiped out approximately $37.6 million in market capitalization, reducing CoW Protocol’s total market cap to $119.3 million.
Market Impact and Trading Activity
Trading volume surged to $37.5 million over the past 24 hours, indicating significant selling pressure as traders rushed to exit positions. The token now ranks #247 by market capitalization, with a fully diluted valuation of $211.5 million based on its maximum supply of 1 billion tokens.
Currently, 564.2 million COW tokens are in circulation, representing approximately 56% of the total supply. The dramatic price movement follows a recent 7-day gain of 26%, suggesting the current selloff may represent profit-taking after a brief rally.
Historical Context
Despite the sharp decline, CoW Protocol remains 429% above its all-time low of $0.0399 recorded on November 9, 2022. However, the token continues trading 90.5% below its all-time high of $2.22 reached on March 28, 2022, during the previous bull market cycle.
The 30-day performance shows COW down 13.15%, indicating broader weakness in the token’s price action beyond today’s dramatic move. A modest 1% recovery in the past hour suggests some stabilization may be occurring, though volatility remains elevated.
What This Means for Traders
CoW Protocol, which facilitates gasless trading and MEV protection through batch auctions, has become a focal point for DeFi traders monitoring decentralized exchange infrastructure tokens. The protocol’s token economics and recent price action suggest increased volatility risk in the near term.
Market participants should monitor support levels near the $0.21 mark and watch for potential continuation of selling pressure or signs of accumulation at these reduced prices. The elevated trading volume indicates heightened market attention and potential for continued price swings.
This is a developing story. Price data current as of 11:36 UTC, February 15, 2026.
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About the Author: Ananya Melhotra
