Back to collectionBelow One Cent Again, and a Silent Chat
The order book had already looked thin the day before, and February's initially steady price offered little reassurance. The market plunged late at night, and XAI reached a low of USD 0.00971, falling below one cent again for the first time since the 10·10 liquidation. Yesterday's thin order book had become a more immediate risk tonight; the drop could no longer be treated as ordinary sideways trading.
A creative chronicle combining project history with imagined scenes. Story events are not verification of network activity.
The order book had already looked thin the day before, and February's initially steady price offered little reassurance. The Night Watchman had a node to tend, while others in the group watched the market. Those concerns usually stayed apart; late at night, they met.
The market plunged late at night, and XAI reached a low of USD 0.00971, falling below one cent again for the first time since the 10·10 liquidation. Liquidations cascaded through derivatives, while spot bids were nearly absent. The group was unusually quiet; no one rushed to explain the cause. The narrator thought that even shouting in panic takes energy. The Night Watchman checked his node first, then looked back at the chat to see whether anyone needed help distinguishing liquidations from staking.
Yesterday's thin order book had become a more immediate risk tonight; the drop could no longer be treated as ordinary sideways trading. Node operation and trader liquidations needed separate explanations, lest silence be mistaken for everything being fine. The narrator recorded the observed low and market conditions for now. No one yet knew where the selling pressure came from or whether it would stop tomorrow.