Back to collectionLiquidity Softens as XAI Leverage Falls
Pressure eased to 55 as Treasury cash fell and credit spreads narrowed, while XAI price, volume and open interest declined and funding turned positive.
The pressure score moved from 56 to a still-neutral 55 on the October 13 reading. Net dollar liquidity rose $15 billion to $5.875 trillion as Treasury cash fell $14.943 billion to $872.526 billion; ON RRP slipped only $25 million. High-yield spreads narrowed four basis points to 311 on October 12, while the 10-year real yield had risen four basis points to 2.91% on October 9. The S&P 500 was nearly flat, but the Nasdaq 100 fell 218.45 points, semiconductors lost 335.63 points and VIX rose 0.37. These mixed, differently dated readings support a neutral rather than directional conclusion.
XAI’s October 13 close fell $0.00022 to $0.00928 and recorded spot volume dropped about $1.407 million to $1.562 million. Open interest declined a further $352,687.10 to $2.098 million by October 14, while funding moved from -0.007486% to 0.005%. Holder count fell by 12 addresses and pool stakers by three; the labelled six-month balance measure increased only 0.005685 million XAI. Lower turnover and open interest indicate reduced leverage and activity, but do not identify buyers, sellers or a causal link to the macro readings.
- Liquidity pressure indicator
- 55 score
- Liquidity: five-year percentile
- 55 percentile
- Liquidity composite score
- -0.103 score
- Net dollar liquidity
- 5.88 USD-trillion
- Treasury General Account
- 872.53 USD-billion
- Federal Reserve balance sheet
- 6.75 USD-trillion
- Overnight reverse repos
- 0.275 USD-billion
- SOFR minus IORB
- -3 basis-points
- High-yield credit spread
- 311 basis-points
- Ten-year real yield
- 2.91 percent
- Bank cash buffer
- 12.14 percent
- S&P 500 close
- 7,807.24 index
- S&P 500 drawdown
- -0.15 percent
- Nasdaq 100 close
- 30,664.7 index
- Nasdaq 100 drawdown
- -1.79 percent
- Semiconductor index close
- 12,236.79 index
- Semiconductor drawdown
- -16.39 percent
- VIX volatility index
- 15.21 index
- S&P 500 price/earnings
- 27.89 multiple
- S&P 500 CAPE
- 41.87 multiple
- Largest constituent weight
- 7.69 percent
- Top-three constituent weight
- 20.34 percent
- Top-ten constituent weight
- 40.2 percent
- Magnificent Seven weight
- 34.8 percent
- XAI holder addresses
- 51,836 addresses
- Sentry key holder addresses
- 10,828 addresses
- Sentry keys
- 3,583,516 keys
- Pool staking addresses
- 13,998 addresses
- Premarket-labelled balances: six-month change
- 105.31 million-XAI
- XAI spot close
- 0.00928 USD
- Recorded XAI spot volume
- 1,561,503.3 USD
- Recorded XAI open interest
- 2,098,419.6 USD
- Recorded XAI funding rate
- 0.005 percent