S price rose roughly

↗34%

over the past month while outpacing Layer 1 peers by roughly

↗5%

over the past week.

Price rises while activity declines

The asset's market value rose roughly

↗7%

over the past week while trading activity declined roughly

↘11%

over the same period, showing investors holding positions despite lower trading volumes.

Selling pressure evident on-chain

Blockchain data showed approximately $279M in net selling activity while trading activity declined roughly

↘11%

over the past week, indicating more sellers than buyers in recent market activity.

Borrowing costs remain low

Borrowing costs for traders remained low at approximately 0.01% (around 11% yearly) as of the latest snapshot, while the asset remains down roughly

↘91%

over the past year from its peak compared to the Layer 1 category average decline of roughly

↘34%

over the same period.