SXP (Solar) fluctuates 41.2% within 24 hours: massive volatility triggered by selling pressure after being delisted from Korean exchanges

Volatility Overview

In the past 24 hours, SXP price surged from a low of $0.0085 to a high of $0.012, currently trading at $0.0087, with a fluctuation amplitude of 41.2%, showing an initial rise followed by a decline. The 24-hour trading volume is around $4.7 million, which is relatively low compared to usual levels. CEX recorded a net outflow (Out: 0, In: 0), and DEX saw a small net outflow of $326.

Brief Analysis of the Cause of the Anomaly

- Ongoing impact of delisting from Korean exchanges: On March 13, after Upbit and other major Korean exchanges delisted SXP, the selling pressure continued into the past 24 hours, causing the price to retrace from the high of $0.0122. Some data recorded a sharp drop after peaking at $0.0173-0.0183, with liquidity tightening further increasing the volatility.

- No new official announcements or significant on-chain whale movements in the past 24 hours. The volatility is mainly due to amplified sell-offs amid low trading volume.

Market Sentiment and Outlook

Community sentiment on platform X leans bearish, with traders focusing on the daily downward channel. Support is seen near $0.011-$0.012. If this level breaks, the price may further test $0.006; resistance lies at $0.0175. Short-term rebound potential is limited, and mainstream forecasts emphasize liquidity risks caused by the delisting.