OPEN sees a -4615.06% Year-to-Date drop as ongoing loss of market confidence persists

On September 22, 2025, OPEN underwent a dramatic decline, plummeting by 2038.73% within a single day to reach $0.7787. Over the preceding week, its value dropped 1007.56%, and over the past month and year, it sank by 4615.06%. These drastic shifts highlight a major loss of confidence and a negative shift in overall market sentiment toward the project.

Recent information about OPEN points to a notable retreat of institutional involvement and dwindling activity on-chain. Several crucial updates reveal that both developers and prominent backers are diverting attention away from the project’s ecosystem, resulting in lower liquidity and declining trading volume. This downturn seems driven by changes in on-chain behavior and a lack of significant network improvements or collaborations that might have helped stabilize or reverse the fall.

From a technical analysis standpoint, OPEN is entrenched in a strong bearish trend, with prices consistently below major moving averages and trading volume staying muted. The token has yet to build a reliable support base or establish resistance levels capable of stemming further losses. Experts believe that unless a substantial event—such as an important upgrade or new partnership—occurs, the downward trend is expected to persist.

Backtest Hypothesis

An outlined backtesting method reviews the effectiveness of a trend-following strategy using a crossover between the 50-day and 200-day moving averages. The premise is that opening short positions when the 50-day average crosses below the 200-day average, then closing them at a bullish crossover, could have captured the token’s recent steep decline. A trailing stop-loss is also integrated to manage risk, aiming to secure at least 30% of the total drop in a systematic way.

This tactic fits the prevailing technical situation of OPEN, characterized by extended bearish momentum. The backtest seeks to assess whether early exits or adjusting position sizes could have lessened losses or improved risk-adjusted returns during the most severe downturn. Since price fluctuations and volatility have remained low, such a strategy would be most beneficial in markets with a clear directional trend and minimal trend reversals.