The torpid Casper Network had its price rise only by 1% last week (May 1 - May 7).
Between May 1 - May 7, Casper Network has been mostly as its price has been in the rising mode. The price swings of CSPR pointed to the presence of low volatility. There has been a fall in the market capitalization of the asset during the period under review. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
According to our market analysis, the weak price movement of Casper Network was dictated by low volatility. The average volatility of CSPR was as low as 0.55%, causing the dull price action. 5.54% was the maximum volatility that the coin managed to showcase on May 5. The quietest period on the asset's market was recorded on May 5, when the volatility dropped to the minimum at 0.55%. Since the current volatility of the crypto coin is low, we expect the price fluctuations of the digital asset at hand to be insignificant.
The price of CSPR took a 7% down downswing at the open of the weekly trading period. The coin market was up by 3% on May 2, the second day of the reviewed time period. During the next trading day, the rate of change in the price of Casper Network stood at 4% having reached the low at $0.06 and the high at $0.06 as the advantage remained on the side of sellers. The trading volume on May 4 rendered support to the 3% bullish move of CSPR. On May 5, Casper Network finished the trading day with no changes to the flatlined market. The price action on May 6 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. May 7 presented us with the following price action data: the coin opened the period at $0.06 and went on to establish the low at $0.056 and the high of the day at $0.059 before closing the day at $0.06. The asset posted the weekly low at $0.06, while the top of the weekly trading session was registered at $0.06. Traders saw Casper Network covering the $0.0007 distance between the weekly low and the weekly high, which constituted for a 1% move.
The trading activity on the Casper Network market over the past week - May 1 to May 7 - generated the average trading volume that went from $19 061 866 to $12 158 624. During the week before May 1, the trading volume of CSPR flowed from $10 428 143 to $19 936 543. The asset demonstrated an 20% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 1%.
Bitcoin began the observed period May 1 - May 7, with the market capitalization of $696 204 589 and finalized it at the market capitalization level of $627 066 431. The percentage change in the total market capitalization of CSPR amounted to 10%. The 10% change in the coin's market capitalization affected the price rate that saw a 1% shift in the same time period. During the week before the analyzed time frame, the market capitalization of Casper Network moved by 16% as it went from $550 922 331 to $636 762 632, and gave a better understanding of the general direction in which this market is flowing.