XCN's trading volume jumped roughly
↗44%
in the past 24 hours following the
Onyx Mesh infrastructure launch as traders betting against the price pay elevated costs to maintain positions.
Infrastructure launch meets market pressure
The Onyx Mesh launch for regulated finance
arrives as the asset faces selling pressure, with approximately 4 sellers for every 1 buyer over the past 24 hours.
Price declines amid selling activity
Price dropped roughly
↘4%
over the past week with sellers significantly outnumbering buyers. The asset has declined approximately
↘80%
over the past year.
Short positions carry unusual costs
Traders betting on price declines are paying roughly 0.24% every 8 hours to hold those positions, making bearish bets more expensive than typical market conditions.
Thin liquidity affects trading
With liquidity at just 0.06% of total market value, trades may face higher slippage and price impact compared to typical Layer 1 blockchain assets.