The most exciting thing about XDP right now isn't how much it has risen.
It's that with such a huge trading volume, the price is still repeatedly changing hands.
Currently, XDP is about $0.0208, with a 24-hour trading volume exceeding $300 million. During this period, the highest price was about $0.0220, and the lowest once touched $0.0187.
This market situation is very interesting.
XDP just recently entered mainstream trading platforms, launching spot and perpetual trading on October 2nd, with liquidity and attention rapidly increasing.
But the price hasn't been steadily rising.
Instead, it has been quickly moving back and forth between $0.019 and $0.022.
This indicates the market is still clearly in the price discovery phase.
Look first at around $0.022 above, which is the current short-term high.
Below, pay attention to around $0.019, which is also a region of repeated recent trading.
If trading volume continues to expand when approaching $0.022 again, the market may retest the previous high; if it breaks below $0.019, then we need to observe whether early investors start to cash out further.
So the real focus for XDP now is just one thing:
With a $300 million level trading volume, where will the price ultimately settle?
The most interesting thing about new coins is never how lively the first day is.
It's who is still willing to stay after the hype starts to fade.
#US September nonfarm payrolls increased by only 29,000, unemployment rate rose to 4.2% #BTC, ETH spot ETFs simultaneously see outflows, cooling capital enthusiasm $XDP
