[October 1 OKX Movers List | CT Continues Leading Gains, XDP Can't Withstand Selling Pressure Despite Event]
Yesterday we said "having an event doesn't mean the coin price will rise," and today $XDP proved it once again.
$XDP had a 24-hour trading volume of $158 million, the highest among non-mainstream coins, but its price dropped 8.7%, marking the second consecutive day it squeezed into the top decliners. The 20 million XDP rewards did boost trading volume, but failed to absorb the selling of new coin holdings.
On the other hand, $CT continues to dominate the leaderboard, rising 16% today with a trading volume of $116 million. It also has a trading event with a prize pool of 1 million CT, but its current trend is clearly stronger than XDP's.
The second highest gainer, $MON, rose 15.9% with a volume of $17.94 million (Monad's official Twitter posted a video yesterday hinting at launching privacy services on October 6; why not launch when privacy isn't hot? Negative review!)
$xLITE and $xCOHR also rose over 11%, but their volumes were both under $1 million, more like price fluctuations under low liquidity.
On the decliners list, $2Z fell 10.9%; $MET, $KMNO, $RAY, and $BERA collectively dropped nearly 9%. BTC barely moved, ETH slightly rose.
The most interesting comparison today is:
Both have events, CT is rising, XDP is falling.
Events can generate volume but can't guarantee buyers. Next, we'll see if CT can hold after the event heat cools down; otherwise, it might repeat the path XDP took.
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