The March 11 - 17 market report: Coin of the champions plunges by 24% as sellers apply more pressure.
Between March 11 - March 17, Coin of the champions has been mostly bearish as its price has been in the falling mode. The situation on the COC market shows that the underlying asset is currently experiencing a period of medium volatility. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The crypto coin's market experienced a falling trading volume during the observed time period, which fell in line with the price action.
While the volatility remains restrained, Coin of the champions isn't making any explosive moves. During the reviewed period, the volatility of COC was in the middle register, averaging at 19%. The volatility of the coin reached its highest point at 23.95% during the observed period. On March 15, the volatility of the asset was at its minimum at 0.74%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 19%.
On March 11, the first trading session of the reviewed time period, the market participants saw COC moving up by 5%. The market sentiment on March 12 stayed as the coin obtained another 3%. The price range of Coin of the champions formed between $0.000000011 and $0.000000012 on March 13 as the price traveled 8% up. On March 15, COC market moved by 1% in the bullish direction in concert with the trading volume. After the open at $0.00000001, Coin of the champions moved during March 15 in the range between the said open and the close at $0.00000001, having posted the 24H low at $0.000000012 and the 24H high at $0.000000013. While the 24H high and low on March 16 were at $0.00000001 and $0.000000009, respectively, the crypto coin had been traded in the area between the open at $0.00000001 and the close at $0.000000009. On the last day of the reviewed period, the coin was locked between $0.000000009 and $0.000000008, though the price managed to puncture these levels to reach the 24H high at $0.00000001 and the 24H low at $0.000000008. The price action on the asset's market during the period between March 11 and March 17 topped at $0.00000001, while the bottom of the price range was established at $0.000000008. Traders saw Coin of the champions covering the $0.000000003 distance between the weekly low and the weekly high, which constituted for a 24% move.
The past 7 days were marked by a change in average daily trading volume from $274 on March 11 to $5 034 on March 17. In order to have a better grasp of the COC market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $1 110 to $225 186. Percentage-wise, the trading volume of the asset changed by 97%, in comparison to the previous period, while its price experienced a 24% adjustment.
The change in the total market capitalization of Coin of the champions from March 11 to March 17 was as follows: on March 11, the capitalization was at $1 554 730, while on March 17, it reached the level of $1 322 116. Percentage-wise, the market capitalization of COC has shifted by 15% in the past week. The said 15% percentage change in market capitalization of the coin was accompanied by the 24% fluctuation in the price of the underlying asset. A better understanding of the lay of the land on the Coin of the champions market requires a comparison with the preceding week when the total market capitalization of Coin of the champions changed by 87% as it went from $834 810 to $1 554 730.