BENQI QI
QI cycle analysis · chart, confirmed lows and fundamentals
Watch Recovering Phoenix · monthly · score 65 mixed
57.1% below its 365-day high of $0.0057 (2025-10-27), +143.1% off the 365-day low. Snapshot 2026-10-21 UTC.
On the Watch.
57% below its rolling 365-day high, 359 days after the high.
Recovering: a monthly swing low has confirmed. The badge coexists with the tier; it is not a completed recovery.
Phoenix monthly: stopped falling by the rules, +143.1% above the Jul 2026 trough. Details below.
Since the previous scan.
Tier, recovering badge and Phoenix state are unchanged between these two observations.
Comparing 2026-10-20 with 2026-10-21 UTC. Classification, not price returns.
Recorded timeline →Where it sits in each cycle
a swing low confirms only when a later bar takes out the low bar's highMonthly
- Last bars
- 2Dr 3g 1g 3g 1r
- Confirmed low
- $0.00101 · 2026-07-31
- Position
- 3 of median 4 (max 10)
- Current low
- $0.00101 · confirmed
- Cycle-low confidence
- 44%
- Confirmed lows
- 10
Weekly
- Last bars
- 2Ug 1g 1r 2Dr 2Dg
- Confirmed low
- $0.00114 · 2026-09-20
- Position
- 5 of median 4 (max 28)
- Current low
- $0.00114 · confirmed
- Cycle-low confidence
- 39% · in band
- Confirmed lows
- 30
Daily
- Last bars
- 3r 2Dr 1g 2Dr 1g
- Confirmed low
- $0.00278 · 2026-10-05 (daily)
- Position
- 16 of median 4 (max 22)
- Current low
- $0.00229 · unconfirmed
- Confirms above
- $0.00249
- Cycle-low confidence
- 73% · in band
- Confirmed lows
- 262
The full read, in sentences
- Monthly: forming bar is a red inside bar. Last confirmed swing low 0.001006 (Jul 2026), month 3 of a cycle that has typically run 4. Cycle-low confidence 44%.
- Weekly: forming bar is a green 2-Down. Last confirmed swing low 0.001139 (Sep 2026), week 5 of a cycle that has typically run 4. Cycle-low confidence 39%.
- Daily: bar is a green inside bar. Last confirmed swing low 0.002784 (2026-10-05), day 16 of a cycle that has typically run 4. Current low 0.002294 is unconfirmed — it confirms above 0.002495. Cycle-low confidence 73%.
- Watch: 57% below the 2025-10-27 high; +143% off the 365-day low.
- Phoenix: 98% decline over 28 months, monthly swing low confirmed (late (2 bars)), now +143% above the trough; pullback #2 confirmed 2026-09-27.
- Gauges: Mayer multiple 1.54 (neutral); -73% vs the 200-week average; -92% from the all-time high.
Has BENQI bottomed?
A confirmed swing low is evidence of a price pattern, not proof of a final market bottom. Here is what the QI snapshot records on 2026-10-21 UTC:
Monthly: the last confirmed swing low is $0.00101 from 2026-07-31. The current candidate is marked confirmed. The latest monthly bar is still forming.
Weekly: the last confirmed swing low is $0.00114 from 2026-09-20. The current candidate is marked confirmed. The latest weekly bar is still forming.
Daily: the last confirmed swing low is $0.00278 from 2026-10-05. A newer candidate at $0.00229 is unconfirmed; its confirmation level is above $0.00249, provided the candidate low is not undercut first.
How bottom confirmation works. Cycle-low confidence is a heuristic score, not a calibrated probability of a profitable trade.
How far is BENQI below its high?
The Coinbase price snapshot is 57.1% below its rolling 365-day high of $0.0057 from 2025-10-27. Separately, CoinGecko reports -99.4% relative to its all-time high of $0.3942 in the fundamentals snapshot pulled 2026-10-21.
Different sources and observation times can produce different drawdowns. Compare crypto drawdowns and reference highs.
The recorded history
scan observations, not exact transition timesFirst observed 2026-09-19. 33 observations; absence from a captured scan is unmatched, never recovery.
- Amber List; recovering · Phoenix monthly → Watch; recovering · Phoenix monthly
- Red List; recovering · Phoenix monthly → Amber List; recovering · Phoenix monthly
- Red List → Red List; recovering · Phoenix monthly
- First observed: Red List
Phoenix
stopped falling, by the rules- Peak
- $0.0400 · Mar 2024
- Trough
- $0.00101 · Jul 2026
- Decline
- -97.5% over 28 months
- Above trough
- +143.1%
- Monthly
- confirmed (late (2 bars)) · trigger $0.00201
- Weekly
- confirmed (late (9 bars))
- False bottom
- $0.00559 · Jun 2025 (2 higher highs, then undercut)
- Entry
- pullback #2 low $0.00114 confirmed 2026-09-27 · trigger $0.0015
| decline | 30 |
| confirmation | 25 |
| earliness | 0 |
| stale | 0 |
| false bottom | 10 |
| bluechip | 0 |
Fundamentals
| Liquidity (24h volume / market cap) can you get out | 58.14 % | 15.0 / 15 |
| Supply overhang (FDV / market cap) unlocked supply waiting to sell | 1.0 x | 15.0 / 15 |
| Size (market-cap rank) survivorship | 884 # | 0 / 15 |
| Usage (price / annualized fees) fees people actually pay to use it (DefiLlama) | 9.4 x | 20.0 / 20 |
| TVL backing (market cap / TVL) capital parked in it (DefiLlama) | 0.18 x | 15.0 / 15 |
| Fee momentum (30d vs prior 30d) is usage growing into the recovery | 24.8 % | 7.5 / 10 |
| Age on Coinbase survived a cycle | 3.9 yrs | 9.7 / 10 |
7 of 7 measurable; score renormalized over what was measurable.
- Market cap
- $20.5M
- Fully diluted
- $20.5M
- 24h volume
- $11.9M
- Circulating
- 7,200,000,000 of 7,200,000,000 max
- All-time high
- $0.3942 · 2021-08-23 (-99.4%)
- TVL
- $115.2M (protocol)
- Fees 30d
- $178.2K
- Revenue 30d
- $31.6K
- Fees 1y
- $3.2M
- Mayer multiple
- 1.545 · neutral
- vs 200-week avg
- -73.1%
- Pi cycle
- 0.386
- On Coinbase since
- 2022-11-23 (1429 bars)
- CoinGecko id
- benqi
Continue your cycle research
How to read a crypto cycle chart · Calculation rules and sources