POWER token plummets 90% in 24 hours, unlocking pressure and trading halts trigger panic selling

March 4 News: Power Protocol’s POWER token plummeted over 90% in the past 24 hours, falling from a high of $2.46 to about $0.18, erasing all gains since February. This sharp decline has drawn market attention to the token’s future prospects and significantly dampened community sentiment, with approximately 64% of users holding a bearish stance.

Power Protocol is a blockchain platform focused on Web3 gaming and digital entertainment. Its core asset, the POWER token, has experienced volatility since its launch on December 5, 2025. In February, despite overall market downturns, the POWER price surged over 900%, supported by a $3 million funding round from BITKRAFT Ventures. However, as the token’s unlock date approaches, this rally quickly reversed.

Analysts point out that the recent crash was mainly influenced by two factors. First, the Ronin Bridge transaction was temporarily halted, causing a widening gap between on-chain market prices and centralized exchanges. Second, a planned token unlock on March 5, accounting for 1.2% of the total supply, heightened fears of selling pressure. Some community members even described the event as a “criminal dump,” suggesting that high-position buyers might face rapid profit-taking risks.

Market experts believe that as the unlock date nears, investors may become more cautious. If market sentiment continues to worsen and the newly unlocked tokens are sold off quickly, prices could decline further. This significant correction also serves as a reminder for investors to pay attention to liquidity and market risks in emerging Web3 entertainment projects.