Back to collectionTreasury Cash Falls as XAI Leverage Rises
Pressure stayed neutral at 58, but lower Treasury cash released net liquidity while XAI open interest jumped against a lower spot close.
The liquidity-pressure score held at 58 and neutral on September 23, but its components moved. Between September 21 and 22, Treasury cash fell $46.982 billion to $957.409 billion and net dollar liquidity rose $47 billion to $5.789 trillion. High-yield spreads widened two basis points to 268 and the ten-year real yield rose one basis point to 2.63%. The S&P 500 closed lower at 7,706.03 while semiconductors rose to 12,534.28, leaving the signal mixed.
XAI’s September 23 spot close fell from $0.00831 to $0.00791 and recorded volume eased to $477,106.80. By 17:00 UTC on September 24, recorded open interest had increased $833,715.40 to $2,313,655.90 while funding stayed at 0.005%. That combination indicates more derivatives exposure alongside a lower spot close, not its cause. A separate $1.662826 million rise in rolling labelled balances remains deferred because transaction-level attribution is unresolved.
- Liquidity pressure indicator
- 58 score
- Liquidity: five-year percentile
- 58 percentile
- Liquidity composite score
- -0.1634 score
- Net dollar liquidity
- 5.79 USD-trillion
- Treasury General Account
- 957.41 USD-billion
- Federal Reserve balance sheet
- 6.75 USD-trillion
- Overnight reverse repos
- 0.461 USD-billion
- SOFR minus IORB
- -3 basis-points
- High-yield credit spread
- 268 basis-points
- Ten-year real yield
- 2.63 percent
- Bank cash buffer
- 11.89 percent
- S&P 500 close
- 7,706.03 index
- S&P 500 drawdown
- -1.19 percent
- Nasdaq 100 close
- 30,470.29 index
- Nasdaq 100 drawdown
- -0.62 percent
- Semiconductor index close
- 12,534.28 index
- Semiconductor drawdown
- -14.35 percent
- VIX volatility index
- 14.21 index
- S&P 500 price/earnings
- 27.89 multiple
- S&P 500 CAPE
- 40.94 multiple
- Largest constituent weight
- 7.76 percent
- Top-three constituent weight
- 20.23 percent
- Top-ten constituent weight
- 39.89 percent
- Magnificent Seven weight
- 33.5 percent
- XAI holder addresses
- 50,025 addresses
- Sentry key holder addresses
- 10,828 addresses
- Sentry keys
- 3,583,516 keys
- Pool staking addresses
- 14,016 addresses
- Premarket-labelled balances: six-month change
- 25.88 million-XAI
- XAI spot close
- 0.00791 USD
- Recorded XAI spot volume
- 477,106.8 USD
- Recorded XAI open interest
- 2,313,655.9 USD
- Recorded XAI funding rate
- 0.005 percent