Power Protocol (POWER) has experienced a dramatic sell-off, plunging 23.4% to $1.41 in the past 24 hours, marking one of the sharpest declines among top-150 cryptocurrencies by market capitalization.
The token’s market cap has contracted by $84.8 million to $299.6 million, dropping its ranking to #133 among all cryptocurrencies. Trading volume surged to $28.5 million as investors rushed to exit positions following the sharp downturn.
Dramatic Reversal From Recent Highs
Power Protocol reached its all-time high of $2.30 just two days ago on February 26, 2026. The token has now declined 38.8% from that peak, representing a rapid reversal that has caught many traders off-guard. Within the past 24 hours alone, POWER touched a low of $1.36 before recovering slightly to current levels.
The hourly price action shows continued weakness, with POWER declining an additional 2.6% in the past hour as of the latest update at 00:07 UTC on February 28, 2026.
Context: Meteoric Rise Precedes Sharp Correction
Despite today’s dramatic decline, Power Protocol remains up significantly on longer timeframes. The token has gained 272.7% over the past seven days and an impressive 615.5% over the past 30 days, suggesting the current sell-off may represent profit-taking after an extraordinary rally.
POWER has surged more than 1,600% from its all-time low of $0.082463 recorded on December 5, 2025, just under three months ago.
Supply and Valuation Metrics
With 210 million tokens in circulating supply out of a maximum supply of 1 billion POWER, the token maintains a fully diluted valuation of approximately $1.43 billion at current prices. The circulating supply represents 21% of the total token allocation.
What Traders Need to Know
The 24-hour trading range of $1.36 to $2.07 represents a 52% spread, indicating extreme volatility. The $1.36 level appears to be providing near-term support, having held during the deepest part of today’s sell-off.
Market participants should monitor whether POWER can stabilize above the $1.40 level or if further downside pressure emerges. The elevated trading volume suggests continued high interest despite the price decline, though the direction of that interest remains bearish in the immediate term.
This is a developing story. Market data current as of February 28, 2026, 00:07 UTC.
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About the Author: Ananya Melhotra
