Trading near its 24-hour high, CHIP faces headwinds as volume dropped roughly

↘21%

over the past week and sellers outnumber buyers.

Mixed signals create uncertainty

CHIP is trading near its 24-hour high despite falling roughly

↘14%

over the past week, though it's doing better than similar Layer 2 coins by approximately

↗1.74%

over the same period.

Selling pressure dominates trading

Trading volume fell roughly

↘21%

over the past week while the number of active traders dropped around

↘28%

over the past 24 hours, with sellers outnumbering buyers by about 1.5 to 1.

Supply concerns loom ahead

Only 20% of total coins are currently available for trading, with 80% still to be released, which could put downward pressure on price as more supply enters the market.