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bigonedearestWhy CoW Protocol sits so far below its peak
CoW Protocol trades at $0.1174 today — −90.5% from its $1.23 high set in December 2024. A fall that deep means something simple: returning to that level would take a 10× rise.
From low to high
Over 2 years the price of CoW Protocol has moved between $0.0990 and $1.23. The low came in August 2026, the high in December 2024.
The deepest fall on monthly closes was −87.0%: from the peak in December 2024 to the bottom in July 2026, taking 19 months. A useful number: it shows what holding through would have meant.
It has been 22 months since that high, and the price has not returned to it.
What the years show
The best full year was 2025 at −76.0%. The worst was 2025 at −76.0%. Of 1 full year, 0 closed up and 1 closed down.
Falling years outnumber rising ones — but the spread between the best and worst year matters more than the count: that is what tells you what to be ready for.
The current year stands at −45.0%, ranging from $0.0990 to $0.2900.
Months: how many closed up
Of 22 closed months, 8 finished up and 14 finished down — 36% of months were rising ones. The average month returned −0.1%.
The strongest month on record was December 2024 at +110%; the hardest was February 2025 at −39.3%.
Does COW have a seasonal pattern
On average COW did best in December: +61.0% across 2 observations, 2 of them positive. It did worst in January: −29.8% across 2 observations.
We print the number of observations next to the percentage for a reason. 2 observations is 2 observations: on a sample that size a pattern cannot be told apart from coincidence. Interesting to look at, not something to plan around.
How to use this
Everything above is the past. It does not say where the price goes next, but it does show the range to be ready for: $0.0990 to $1.23, with a drawdown of −87.0%.
What is useful right now is this: COW costs different amounts on different exchanges, and that gap is visible in the cross-exchange scanner. Before a large purchase it is worth checking the order books — they show how much you can actually take at a given price, not just the best offer. And if the coin has to move between venues, the transfers section shows which network is cheaper.
