SPX (SPX6900) fell 10.37% in 24 hours.

Gate News Bot news, on September 26, according to CoinMarketCap data, as of the time of writing, SPX (SPX6900) is currently priced at $0.95, down 10.37% in the last 24 hours, with a high of $1.44 and a low of $0.93. The current market capitalization is approximately $889 million.

SPX6900 is a multi-chain token project with a total supply of 1 billion tokens. Currently, the circulating supply is 931 million tokens, with 6,900,690 tokens destroyed (accounting for 6.9%). The SPX token can be traded across multiple blockchains such as Ethereum, Solana, and Base, with cross-chain bridging support provided by Wormhole. The project positions itself as “the people's stock market,” aiming to provide new financial solutions for the new generation of investors.

Important recent news about SPX:

1️⃣ Large holders moving funds On September 23, a large holder codenamed “traderpow” transferred 1.63 million SPX tokens to a trading platform, worth approximately $1.78 million. This investor accumulated these tokens 10 months ago at an average price of $0.6. If sold at the current market price, they are expected to achieve a profit of about $804,000, with a return on investment of 82%.

2️⃣ Short-term supply pressure increases The fund transfer behavior of large holders may indicate an impending large-scale sell-off. This potential increase in supply could be one of the key factors leading to the 10.37% drop in SPX prices over the past 24 hours.

3️⃣ Market Sentiment Fluctuation The expectation that large holders may sell off has likely triggered panic in the market, resulting in a sharp fall in SPX prices. This emotional volatility may continue to affect SPX's price performance in the short term.

From a technical perspective, the SPX price quickly fell from a high of $1.44 to $0.95, a decline of over 30%, indicating strong selling pressure. In the short term, market participants should closely monitor the support level at $0.93; if this level is broken, it could trigger further declines.

This message is not an investment advice; investors should be aware of market volatility risks.