Casper Network showed a moderate 7% growth between April 29 and May 5.
The analysis of last week’s price action shows that the Casper Network market is in the bullish phase since the price has been moving upward. CSPR was caught in a period of medium volatility, which was reflected in its price action. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. The trading volume on the crypto coin's market has been increasing throughout the reviewed period along with its price.
The volatility has been suppressed, as the Casper Network price action suggests. We established that CSPR didn't showcase any significant price action due to the market's mild average volatility of 5%. The volatility of the coin reached its highest point at 7.32% during the observed period. The price of the asset had fluctuated the least on May 3, when the volatility plummeted to 0.55%. The crypto coin's market didn't put up any surprises due to mild average volatility of 5%.
The first day of price action was marked by the 4% move to the upside from the point where the trading session opened. April 30 saw the coin going another 6% since the open, supported by the corresponding trading volume. Casper Network posted the interim low at $0.06 on May 1 and then moved down by 7% and peaked at $0.06. On May 3, CSPR market moved by 3% in the bullish direction in concert with the trading volume. The price range of Casper Network on May 3 formed between $0.06 and $0.06, whereas the daily price extremities were $0.06 and $0.06. The price action on May 4 saw the crypto coin moving along the following route: starting point at $0.06 and closing point at $0.06, while it also deviated to establish the high of the day at $0.06 and the low of the day at $0.06. The coin's market saw no changes on May 5, as the market flatlined. During the reviewed time period, the asset was able to achieve the weekly high at $0.06, though at a certain point, the bear pressurized the price down to the weekly low at $0.05. Casper Network shaped the $0.004 price range over the week of price action, which constituted the 7% gap between the weekly low and the weekly high.
The trading activity on the Casper Network market over the past week - April 29 to May 5 - generated the average trading volume that went from $10 533 238 to $13 359 015. We can draw the comparison with the period of 7 days that preceded the reviewed one when CSPR ’s trading volume varied from $10 428 143 to $19 936 543. The 7% trading volume fluctuation between April 29 and May 5, as compared with the previous period, served as a basis for a 7% price move.
The total capitalization of Bitcoin at the start of the analyzed time period (April 29) amounted to $601 324 597; by the end of that period (May 5), the capitalization went to $671 352 320. Percentage-wise, the market capitalization of CSPR has shifted by 12% in the past week. As a consequence of the 12% fluctuation in its market capitalization, the price of the coin changed by 7%. A better understanding of the lay of the land on the Casper Network market requires a comparison with the preceding week when the total market capitalization of Casper Network changed by 15% as it went from $529 500 478 to $601 324 597.