The JCT token of Janction fell to a low of $0.002569 on Binance Futures as of 16:25 UTC on Nov. 12, 2026, below its $0.002832 close on Nov. 7, prior to the rally which topped out at $0.021344.
This marks a decline of 88% from the top and represents a complete retracement of the move. The top was registered during the hour starting 20:00 UTC on Nov. 8, 7.5 times the Nov. 7 close. The beginning of the rally has been reported by CryptoNewsLive on Nov. 8, with JCT jumping 320% in hours. The Janction crash has been taking place for four days so far.
Janction crash brought JCT back to the pre-rally price level
The rally has started in the hour starting 10:00 UTC on Nov. 8, when the token made a move from $0.004654 to $0.007287. The daily candle closed at $0.010737 on Nov. 9, as per Binance’s JCTUSDT perpetual.
The next sharp move lower took place on Nov. 10 when JCT fell 51.5% from its open to close at $0.005212. On the day starting on Thursday, Nov. 12, JCT opened at $0.005021 and the Janction crash resumed from that point onwards. At 16:25 UTC on that day, the low for the day had reached $0.002569, which was 9.3% below the close of Nov. 7.
The fall has taken place on significantly lower volumes
On Nov. 8, the volume of the perpetual was $1.85 billion, according to the candles on the exchange. The volume on Nov. 9 was $965 million, on Nov. 10 it was $587 million and on Nov. 11 it was $447 million. On Nov. 12 the volume up until 16:25 UTC was $180 million, and the most active hour was 03:00 UTC with a volume of $16.2 million.
The bulk of the trading is done on futures markets. JCT perpetual on Binance has traded $228.8 million during the last 24 hours until 16:25 UTC, whereas the largest spot or on-chain market of JCT listed on CoinGecko, which is a PancakeSwap liquidity pool on BNB Chain, has traded $10.4 million.
Number of open contracts is increasing despite the falling price
Open interest is the number of outstanding futures contracts. In dollars, it peaked at $65.3 million at 19:00 UTC on Nov. 8 and was $14.4 million at 16:00 UTC on Nov. 12, down by 78%, according to Binance. The open interest in terms of tokens shows the opposite dynamics. Binance reported 3.76 billion JCT in open contracts at 03:00 UTC on Nov. 8, just before the rally started, and 4.95 billion at 16:00 UTC on Nov. 12. It peaked at 5.05 billion at 14:00 UTC, the maximum for the last 200 hours of hourly data.
Open contracts of 4.95 billion JCT make up 43% of the 11.49 billion JCT that CoinGecko reports as circulating. The information doesn’t reflect which side initiated the open contracts amid the Janction crash. The account ratio of Binance revealed that the number of long accounts stood at 1.96 times the number of short accounts at 16:00 UTC, while its ratio of the positions of the biggest traders was 1.39 long to 1 short. Both are snapshot information, while the former measures accounts rather than positions. An increase in the number of open contracts means more positions that traders or the exchange must eventually close if the price moves sharply.
Where the Janction chart stands after the crash
On the hourly chart, the highs have been stepping down. The high of Nov. 11 at 13:00 UTC was $0.007734, and that of Nov. 12 at 13:00 UTC was $0.003199. Since then, no hourly high has exceeded the second one. Lows worth mentioning are the following: $0.002569 (Nov. 12), $0.002512 (Nov. 8) and $0.001885 (Oct. 23).
An hourly close below $0.002569 would point to $0.002512 and subsequently $0.001885. That call will be void if JCT closed an hour back above $0.002582. An hourly close above $0.003199 would be the first higher high since the Nov. 12 fall started and would point to $0.004060, which is the low in the 03:00 UTC hour that day. That call will be void if JCT closed an hour below $0.002569. Neither of these levels has been tested by a close since the Janction crash started, and the chart does not lean towards any of them. None of this is a forecast, and JCT is volatile enough for its holders to lose money.
After the Janction crash, the value of this token in the market is around $31.2 million according to CoinGecko. 11.49 billion out of 50 billion tokens are currently in circulation. Initia, another Binance listed token, was down 66% from its high in the CryptoNewsLive report of Nov. 12.
