Compound sees limited 1% gains between August 30 and September 5 as the market cools down.
The analysis of last week’s price action shows that the Compound market is in the bearish phase since the price has been moving upward. COMP has been going through a period of low volatility, which fell in line with the occurred price changes. The market capitalization of the asset has been decreasing in concert with the price of the coin. The crypto coin's market experienced a falling trading volume during the observed time period, which fell in line with the price action.
The price action of Compound is in a stalemate due to low volatility during the observed period. Our data shows that the average volatility of COMP didn't exceed 0.19%, which is why its price remained constrained. The most significant price swings occurred on September 3, when the volatility of the coin was at its highest for the given period at 3.19%. On September 4, the asset didn't make any noticeable price movements as its volatility dropped to the lowest level at 0.19%. The crypto coin's low volatility of 0.19% points to the weakness of all market participants.
The losses of COMP after the weekly open on August 30 amounted to 3%. August 31 saw the coin going another 2% since the open, supported by the corresponding trading volume. The bears dominated the price action during the following trading period as the price drifted 2% to the downside, having established the low for the reviewed time frame at $45.49, while the high was recorded at $47.27. On September 2, the value of COMP was in the range, with the market remaining flat. The price oscillation of Compound on September 3 was in the $45.69 - $47.36 range; at the same time, the price stretched out to reach the 24H low at $45.69 and the 24H high at $47.96. On September 4, the crypto coin showcased the following price fluctuations: the trading session began at $47.65 and then traveled from the low of the day at $47.57 to the high of the day at $48.49, closing at $48.34. The coin found the deepest trough (24H low) at $46.9 on September 5 and then exploded to the ceiling (24H high) at $48.84; the price range for that day was between $48.44 and $47.66. The asset posted the weekly low at $45.49, while the top of the weekly trading session was registered at $51.99. Compound bounced 1% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.57.
Compound ’s average trading volume on the opening day of the observed time period, August 30, stood at $108 086 996, while on the closing day of the same period, it moved to $19 005 798. We can draw the comparison with the period of 7 days that preceded the reviewed one when COMP ’s trading volume varied from $73 219 464 to $130 356 738. The 34% trading volume fluctuation between August 30 and September 5, as compared with the previous period, served as a basis for a 1% price move.
The total capitalization of Bitcoin at the start of the analyzed time period (August 30) amounted to $341 491 355; by the end of that period (September 5), the capitalization went to $332 538 426. Percentage-wise, the market capitalization of COMP has shifted by 3% in the past week. While the market capitalization of the coin was altered by 3%, its price has made a 1% change. Compound ’s market capitalization from the week before changed by 13%, as the result of fluctuation between $347 749 032 and $341 491 355, to give a clearer vision of the current state of the market.