A strange split opened up in Binance’s spot market this week, catching altcoin traders off guard. While Solar’s SXP took a steep hit, Trust Wallet Token (TWT) suddenly bounced higher, breaking the usual rhythm of how mid-cap altcoins tend to rotate.
According to Binance spot data, SXP dropped 13.02% over the past 24 hours, extending a steady sell-off rather than showing signs of a sudden liquidation event. At the same time, TWT rebounded more than 10% from its daily low, snapping back after weeks of persistent downside pressure. The contrast between the two moves highlights how fragile liquidity has become in thinner year-end trading conditions.
SXP’s price action tells a familiar story for smaller tokens in shallow order books. The token traded within an intraday range of roughly $0.0608 to $0.0666 USDT, a swing of about 9–10%. While that range isn’t extreme for a small-cap asset, the fact that SXP is now hovering around $0.064–0.065 USDT, in the lower half of the day’s range, suggests sellers remain firmly in control. Importantly, there was no dramatic capitulation wick — just consistent pressure that tends to translate into underperformance when Bitcoin remains strong.
The broader altcoin tape looked equally unstable. API3, ACA, BIFI, and LAYER all followed a similar intraday pattern: a quick push higher followed by sharp selling. Losses across this group ranged from 10% to over 20%, a classic “wick up then fade” setup often seen when late buyers provide exit liquidity. In thin markets, these quick spikes can disappear just as fast, leaving little follow-through.
TWT, however, briefly moved against the current. Despite facing bearish short-term sentiment tied to a recent Chrome extension exploit, the wallet-focused token attracted spot buyers defending exposure linked to self-custody narratives. After touching its daily low, TWT surged more than 10% intraday, even as it remains down roughly 6% on the day, 27% over the past month, and more than 36% over both three months and year-on-year. That context matters: the bounce looks more like short-covering or a mean-reversion move than a clear trend reversal.
Looking ahead toward New Year’s Eve, the outlook remains cautious when measured against Bitcoin. The base case is that BTC dominance holds or grinds higher, supported by ETF-driven flows and year-end positioning. If that plays out, SXP, TWT, and similar mid-cap tokens are likely to continue underperforming on BTC pairs.
There is, however, a tactical exception. TWT could still see 10–15% upside in USD terms into the end of December. But unless Bitcoin stalls or pulls back, even that move would probably signal stabilization rather than a true recovery. For now, the message from Binance spot is clear: liquidity is thin, rallies are fragile, and altcoin strength remains selective at best.
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