Request volatility and risk: how violent it has been
1,912 daily moves since 20 Aug 2021. On a typical day REQ moves 2.0% in one direction or the other; on 1 day in 20 it has lost more than 6.7%, and its deepest fall from a record close was −95%.
Volatility is the standard deviation of daily log returns multiplied by the square root of 365, the usual way to put it on a yearly scale. “1 in 20” and “1 in 100” are the 5th and 1st percentiles of all daily moves, read straight from the history with no model.
The 10 largest one-day falls, and what followed
| Day | Move | Close | 7 days later | 30 days later |
|---|---|---|---|---|
| 11 May 2022 | −25.0% | $0.1164 | −7.0% | −0.7% |
| 9 Nov 2022 | −21.5% | $0.07610 | +7.2% | +27.1% |
| 13 Oct 2023 | −19.1% | $0.07620 | −7.9% | +15.0% |
| 9 Dec 2024 | −18.9% | $0.1174 | +14.5% | +1.7% |
| 2 Apr 2025 | −18.8% | $0.1029 | −6.4% | +22.2% |
| 16 Oct 2022 | −16.4% | $0.1163 | −7.2% | −28.8% |
| 21 Jan 2022 | −16.0% | $0.2370 | −6.8% | −7.0% |
| 27 May 2026 | −15.6% | $0.07120 | −15.4% | −23.7% |
| 12 May 2022 | −15.4% | $0.09850 | +15.8% | +10.1% |
| 13 Dec 2021 | −15.4% | $0.4053 | −13.5% | −25.8% |
After these 10 falls, REQ was higher a week later in 3 of 10 cases and higher 30 days later in 5 of 10. 10 hand-picked extremes are an anecdote, not a test. The full count is on the 10% drop in a day study: 22 scored cases, verdict “strong evidence”.
The 10 largest one-day gains, and what followed
| Day | Move | Close | 7 days later | 30 days later |
|---|---|---|---|---|
| 25 Nov 2021 | +280.5% | $0.7793 | −19.3% | −49.1% |
| 10 Oct 2023 | +57.1% | $0.09690 | −29.5% | −18.5% |
| 1 Dec 2021 | +48.1% | $0.6681 | −24.4% | −44.4% |
| 15 Oct 2022 | +47.8% | $0.1391 | −22.9% | −41.8% |
| 26 Mar 2024 | +46.0% | $0.2098 | −26.7% | −33.3% |
| 18 Apr 2026 | +42.4% | $0.09970 | −25.0% | −32.8% |
| 29 Jun 2022 | +40.3% | $0.1183 | −1.4% | +9.2% |
| 3 Jul 2022 | +29.5% | $0.1334 | −18.4% | −1.3% |
| 26 May 2026 | +28.7% | $0.08440 | −27.6% | −37.1% |
| 10 Feb 2024 | +28.2% | $0.1311 | −19.1% | +11.8% |
After these 10 gains, REQ was higher a week later in 0 of 10 cases and higher 30 days later in 2 of 10. The full count is on the 10% jump in a day study: 30 scored cases, verdict “strong evidence”.
Moves are from one daily close to the next (00:00 UTC), Binance spot. “Open” means that many days have not passed yet.
Request and Bitcoin
Over the last 365 days REQ has moved only weakly with Bitcoin: the correlation of their daily moves is 0.37, where 1 means in step and 0 means unrelated. For each 1% Bitcoin moved in a day, REQ moved about 0.68% on average.
| Period | Days | Correlation | Move per 1% of Bitcoin |
|---|---|---|---|
| Last 90 days | 90 | 0.54 | 0.66% |
| Last 365 days | 365 | 0.37 | 0.68% |
| All shared history | 1,912 | 0.29 | 0.89% |
Daily close-to-close moves on the 1,912 days both pairs traded. What REQ did in the week after a Bitcoin shock is tested separately: after Bitcoin drops 5% in a day.