xion

December 1
$SUI
Unlocking 55.54 million SUI. Market value — $82.81 million. Share of supply — 0.56%. From capitalization — 1.51%. 36.8% of the emission is in circulation. The appearance of such a volume may temporarily change the ratio of supply and demand.
◇◇◇◇◇
$EIGEN
36.82 million EIGEN will be released into circulation. Market estimate — $21.82 million. Share of supply — 2.08%. From capitalization — 8.30%. 19.4% of the emission is unlocked. The additional volume will significantly increase the share of circulating tokens.

XION shocked the market when it jumped almost two hundred sixty seven percent within eight hours on twenty six November. The move came right after news of a fresh listing and the token reacted with a sharp spike that pulled huge attention. XION is a layer one project with a small market cap near one hundred fifty one million which makes it open to fast and wide moves both up and down

Right after the massive jump the token fell hard and at the time of writing it traded near zero point six nine. That is around forty five percent lower than the high it made the day before. Even after the drop the token was still more than one hundred percent up from the low of the previous day. This shows how wild the movement has been and why many traders are asking what comes next

XION was not strong in the last few months. Many altcoins made good gains from June to September but XION stayed weak and slipped into a downtrend. The rally this week hit the top at the zero point eight to one dollar zone but could not break it. This area is a strong resistance. The chart shows that XION needs to move above zero point six nine and then zero point seven nine to have a real chance at a trend change. For now both levels still act as walls above the price

The sharp jump also pulled heavy activity into futures. Open interest went from three hundred seventeen thousand to more than six point six million which is a twenty one times jump. This rise shows that the move was full of hype and short term traders jumped in quickly. When open interest explodes this fast it often means the move can reverse just as fast when the hype cools down

Right now bulls face a tough fight. The drop from the high was steep and the token must show strong buying near support to stay stable. If XION cannot move above zero point seven nine and hold it then the downtrend will stay in place. Traders are being careful because sharp moves in small cap tokens often fade when early buyers take profit

Still the fast jump shows that the token can move hard when new demand comes in. If more listings or new updates appear the price can get another push. But for now the safer view is that the token is still in a bearish zone until the key levels flip into support

XION sits at a point where the next few days will decide if the rally was only hype or if it can build a new base for a stronger climb. Traders will keep watching the support zone closely to see if buyers return with real strength
#XION #Binance #CryptoInsights #CryptoNewss