Deep Dive
1. Exchange Delisting Fallout (Bearish Impact)
Overview: OKX SG’s delisting of SC on 29 September 2025 (announcement) removed USD and USDT trading pairs, forcing holders to offload positions. While the event occurred ~6 weeks ago, residual liquidity erosion and negative sentiment persist.
What this means: Reduced exchange support limits buying options and institutional interest. SC’s 24h turnover ratio of 0.0624 (vs. market average ~0.28) confirms thin liquidity, making prices prone to sharper swings.
2. Technical Breakdown (Bearish Impact)
Overview: SC trades at $0.00200, below its 30-day SMA ($0.0020267). The MACD histogram shows weak bullish momentum (+0.000035982), while the RSI (49.19) hovers near neutral, failing to signal oversold conditions.
What this means: Traders see limited upside potential below the 30-day SMA, a key resistance level. Without a decisive break above $0.00203 (SMA), bearish sentiment may dominate.
3. Network Activity Stagnation (Mixed Impact)
Overview: Despite June–July 2025 upgrades (Utreexo syncing, RHP4 storage), SC’s daily active addresses and storage utilization show no significant uptick. The Sia Foundation’s 4 November 2025 call for exchanges to upgrade walletd highlights lingering adoption hurdles.
What this means: While upgrades improve long-term utility, slow ecosystem growth fails to offset near-term sell pressure from delisting-driven uncertainty.
Conclusion
SC’s decline reflects a mix of post-delisting liquidity strain, technical resistance, and delayed network traction. While upgrades aim to position Sia as a decentralized storage leader, traders await clearer adoption signals.
Key watch: Can SC hold support at $0.00199 (Fibonacci 50% retracement level), or will bearish momentum push it toward $0.00184 (61.8% level)?