The current price fluctuates around $0.118-$0.125, down over 92% from the ATH of $1.68. Recently, after touching the low of $0.1146 on January 25, it rebounded slightly.
In terms of on-chain activity, the 24h trading volume is moderately high at $50M-$89M, with a decline of about 5-17% over the past 7 days, overall lacking strong direction. On-chain activities are mainly paid with stablecoins, with no-fee transfers of USDT and integrations (such as NEAR Intents, CoW Swap) driving slow growth in TVL, but the demand for XPL has not significantly converted, and the unlocking pressure continues to exist.
Overall, the price is consolidating at a low level, with support relying on accelerated on-chain adoption; otherwise, there is still a risk of further declines.
